Here’s What Could Trigger Christmas Rally for Altcoins, According to Glassnode Co-Founders
The co-founders of the crypto analytics firm Glassnode are outlining two key conditions that could spark altcoin rallies just in time for Christmas. Jan Happel and Yann Allemann, who go by the handle Negentropic on the social media platform X, tell their 63,300 followers that altcoins could be on the verge of outperforming Bitcoin (BTC) in the next two weeks. The Glassnode co-founders are looking at the Bitcoin Dominance (BTC.D) chart, which tracks the percentage of the total crypto market cap that belongs to Bitcoin. The duo shares a chart suggesting that BTC.D has flipped bearish, opening the doors for altcoins to rise faster in value than Bitcoin. “Bitcoin dominance has been rejected at the upward trendline – is this the setup for a Christmas rally in altcoins? For this to happen: Bitcoin needs to consolidate above $100,000. A period of sideways movement could allow altcoins to gear up for a breakout. The second half of December and year-end could brin...