{"id":518910,"date":"2023-02-07T18:00:05","date_gmt":"2023-02-07T18:00:05","guid":{"rendered":"https:\/\/wncen.com\/?p=518910"},"modified":"2024-06-11T08:06:36","modified_gmt":"2024-06-11T08:06:36","slug":"heres-what-could-stop-the-altcoin-bull-rally-dead-in-its-tracks","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/heres-what-could-stop-the-altcoin-bull-rally-dead-in-its-tracks\/","title":{"rendered":"Here\u2019s What Could Stop The Altcoin Bull Rally Dead In Its Tracks"},"content":{"rendered":"

The majority of altcoins in the crypto space have been rallying independently of the largest cryptocurrencies in the space. However, while this has been good so far, it could also present a possible roadblock for the altcoin bull rally.<\/p>\n

Bitcoin And Ethereum Could Cause A Problem<\/h2>\n

Over the last week, while multiple altcoins have been rallying and seeing double or triple-digit gains, the price of the two largest cryptocurrencies in the space, namely Bitcoin and Ethereum, have not seen much upside. They have continued to consolidate without affecting the market.<\/p>\n

Related Reading: Crypto Market Still Reeling As Bitcoin\u2019s Break Above $24,000 Triggers Liquidations<\/a><\/div>\n

According to a report by on-chain data aggregator Santiment, this has seen the likes of HEX and GRT rally tremendously. Also, during this time, AI tokens such as FET and AGIX have done well, enjoying the continued attention being given to artificial intelligence by investors<\/a>.<\/p>\n

However, Santiment cautions investors who are putting money into small and mid cap altcoins at such a time. The problem here lies in the fact that these altcoins are seeing price increases without any positive movement from Bitcoin, which is an established market mover.<\/p>\n

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\ud83d\udcca February hasn't seen a repeat of excitement for #Bitcoin<\/a> & #Ethereum<\/a> like we saw in January. But #altcoins<\/a> like $HEX<\/a> (+64%), $TMG<\/a> (+70%), and $GRT<\/a> (+66%) have had other plans this past week. Be cautious, though, when money is cycling into mid\/small caps without top cap rising. pic.twitter.com\/TYO8pNh5yF<\/a><\/p>\n

— Santiment (@santimentfeed) February 7, 2023<\/a><\/p><\/blockquote>\n