As per Cryptofrontnews, Bitcoin has dropped 30% into a long-term trendline, mirroring the 2021 cycle in reverse. Analyst Merlijn The Trader noted the current market structure resembles the 2021 setup but with a more fearful sentiment. Bitcoin Dominance reached 59%, the highest since 2021, suggesting potential capital rotation to altcoins. The ETH/BTC pair has broken its long-term downward trend, signaling Ethereum's relative strength and possible altcoin momentum. Merlijn highlighted that the current pattern shows price pulling back into support rather than rising into pressure, with technical signals leaning toward stabilization. Rekt Capital added that Bitcoin's historical timing suggests a potential rebound from current levels.
Bitcoin's 30% Drop Mirrors 2021 Cycle in Reverse as ETH/BTC Breaks Long-Term Downtrend
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