Is Bitcoin Paving the Way for the Next Crypto Wave?
The cryptocurrency market is currently witnessing a fascinating dynamic, with Bitcoin exhibiting predictable strength that, according to insights from popular trader Merlijn The Trader, could soon ignite a massive rally across altcoins.
Far from slowing down, Bitcoin appears to be on a predetermined path, setting the stage for what could be a surprising market-wide surge.
Bitcoin’s Precision: Walking the Pitchfork Rails
Merlijn The Trader highlights that “Bitcoin is moving exactly as the Pitchfork predicted.” This technical analysis tool, established by three key points, indicates that “price is walking the rails” with remarkable precision. The implication is a sustained, powerful upward trajectory. Bitcoin is “not slowing down,” and its “next leg higher” is anticipated to “surprise everyone.” This adherence to the Pitchfork pattern underscores a robust and continuing bullish momentum for Bitcoin, suggesting its current movements are part of a larger, pre-defined expansion.
The Halving Effect: Bitcoin’s Role in Altcoin Resurgence
While the focus remains on Bitcoin’s individual performance, its cyclical nature, particularly around halving events, has profound implications for the broader market. As Merlijn The Trader points out, “post-halving rallies always start this way” for altcoins, even as they are “bleeding quietly.” Historically, every dip in the altcoin market around the halving periods (2016, 2021, and the recent 2024 halving) has been followed by a “vertical move.” This suggests that Bitcoin’s halving cycle acts as a primary conductor for the entire crypto market, with its consistent upward pressure eventually translating into an altcoin boom.
Bitcoin Dominance: The Tipping Point for Altcoins
A crucial element in Merlijn The Trader’s analysis is Bitcoin dominance, which he notes is “nearing exhaustion” after a “4 years of relentless uptrend.” While there might be “a bit more pain for altcoins” as Bitcoin dominance potentially tests a “rejection zone at 70%… again,” the breaking of this level is presented as the ultimate trigger for altcoins.
The chart visually depicts this long uptrend and a potential reversal point. “Once this cracks,” Merlijn The Trader asserts, “altcoins won’t just run — They’ll erupt.” This signifies a powerful capital rotation from Bitcoin into altcoins, promising explosive growth in the wider crypto market, all set in motion by Bitcoin’s sustained strength and eventual shift in dominance.
In essence, Merlijn The Trader’s analysis paints a picture of Bitcoin leading the charge, not just for its own gains, but also as the inevitable catalyst for a massive altcoin resurgence. Its predictable movements, coupled with the nearing peak of its market dominance, are setting the stage for a dramatic shift in the crypto landscape, making Bitcoin’s current trajectory a critical watch for all crypto investors.
Kosta Gushterov
Reporter at Coindoo
Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He not only covers a wide range of current topics, but also writes excellent reviews, PR articles, and educational materials. His articles are also quoted by other news agencies.
