Recent leaks regarding the potential appointment of senior White House advisor Hasset as the new Fed chairman have captured the public’s attention. Meanwhile, Bitcoin 
$78,121 has faced challenges in maintaining its $88,000 support level permanently, suggesting a temporary end to its decline. What, then, are the predictions of experts concerning Bitcoin and its market dominance?
Bitcoin Chart and Market Dominance
Analyst Ali Martinez observes a descending flag pattern in the BTC chart, indicating a possible breakdown. If justified, this pattern might drive BTC prices down to $79,000. Although this scenario is not far from last week’s low, such a move could trigger significant losses for altcoins.
Market analyst DaanCrypto reviewed the Bitcoin dominance chart to assess the general market status, stating that BTC dominance started declining at the end of this downturn. With a slight market recovery, dominance continues to fall, while meme coins show signs of rejuvenation. If BTC maintains its current price floor, a revival in several altcoins is anticipated, even if it results from short-term movements due to the closure of accumulated positions over several months. Close observation of relative strength and local market structure shifts remains crucial.
If these predictions hold true, we could witness double-digit fluctuations in positively diverging altcoins. Over the past week, only KAS and SPX recorded a 10% increase.
XRP and ETH Analysis
Ether, the largest altcoin by market value, saw clear inflows in the ETF channel last Friday and Monday. This recovery in the ETF channel is promising following a significant outflow series. Currently, Ether appears eager to reclaim the $3,000 mark. Since hitting $4,700 in October, BTC experienced significant dips over 50 days and now hovers 39% below its peak. Maintaining a position above $2,875 is positive, and regaining $3,060 to $3,380 could convince investors of a reversal.
Last week, XRP Coin was the only asset that saw clear inflows in the ETF channel. Consequently, it responded swiftly to BTC price increases, determined to maintain its $2.2 support. Success here could set the next target between $2.4 and $2.65.
Meanwhile, Franklin is launching its own XRP ETF, named XRPZ.
