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As of the article’s writing, Bitcoin 
$108,970 is trading at $92,600, while altcoins are experiencing losses. The volatility in Bitcoin’s price has sparked concerns of potential further declines among altcoins. Meanwhile, Trump has called for Russia to halt its attacks. What significance does the 369-day mark hold for cryptocurrencies?
Historical Data of Bitcoin
Bitcoin kicked off the new week with an impressive rise; however, after reaching a peak of $94,696, altcoin gains have reversed. Many cryptocurrencies are continuing the day with losses exceeding 3%. Since the temporary surge triggered by November elections and ending in December, the market has seen steady sales for nearly five months.
Does this mean the hope for a rise has vanished? Quinten suggests in his latest assessment that we have not yet reached the true peak. According to him, conditions are favorable for greater peaks, and historical data indicates that Bitcoin typically reaches its peak 480 days after the halving event.
“On average, Bitcoin peaks 480 days after halving.
Currently, we are 369 days past the halving.”
Historical data suggests that we still have a way to go before reaching a peak. It is also important to acknowledge that we are not experiencing a typical cycle, as the market is influenced by news related to tariffs. However, the significant impact of tariffs on the global economy cannot be overlooked, indicating a need for resolution.
Additionally, this week has already seen a net influx of $2.2 billion into ETFs. The accelerating demand for Bitcoin ETFs signals a potential turning point following a prolonged period of steady sales.
Decline in Cryptocurrencies
Altcoins have turned red once again, which is not surprising. As economic uncertainty persists, frequent statements from Fed members suggest that fears will not be alleviated with interest rate cuts. Fortunately, Trump’s attempts to remove Powell do not seem to worsen the situation.
Michael Poppe recently shared a graph addressing the recent fluctuations in altcoins.
“As gold rises, a simple correction is happening in the markets. The overall trend has changed on gold and, consequently, on altcoins as well.
As this decline continues, I expect more support to come to the altcoin markets.”
