Severino’s analysis applies the Elliott Wave Theory, which claims that the bear market for altcoins started in 2022, coinciding with Bitcoin’s Wave 5. Related Reading: Bitcoin, Ethereum, And Solana: Real Vision’s Raoul Pal Calls The Greatest Macro Trade Of All Time During this period, the market saw a rise in interest rates and Quantitative Tightening (QT), where central banks reduced liquidity in financial markets.
This correction comes as the broader market sentiment turns bearish and cautious while Bitcoin (BTC) experiences persistent volatility and moves into bear market territory. Ethereum And Dogecoin Market Cap Takes A Hit Ethereum, the second-largest cryptocurrency by market capitalization, has recorded a significant drop in its market cap in the last 24 hours.
This massive drop in both cryptocurrencies comes as analysts confirm that Bitcoin has entered bear market territory. Bitcoin And Altcoins Enter Bear Market According to crypto analyst Tony Severino, Bitcoin may have entered bear market territory as the pioneer cryptocurrency faces decreasing momentum.
The story "Ethereum, Dogecoin Lead Large Cap Losses As Bitcoin Moves Into Bear Market Territory" has 457 words across 67 sentences, which will take approximately 2 - 4 minutes for the average person to read.
Which news outlet covered this story?
The story "Ethereum, Dogecoin Lead Large Cap Losses As Bitcoin Moves Into Bear Market Territory" was covered 22 hours ago by NewsBTC, a news publisher based in United Kingdom.
How trustworthy is 'NewsBTC' news outlet?
NewsBTC is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United Kingdom and publishes an average of 4 news stories per day.
It's most recent story was published 9 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
