Bitcoin
$85,895 is poised for a weekly close above $85,000, sparking excitement among traders. If this close occurs at higher levels, hope for an altcoin recovery may increase. However, a prominent cryptocurrency analyst is cautioning about potential further declines in altcoins, drawing attention to the ETHBTC chart.
Potential Declines in Altcoins
Many altcoins have dipped below last year’s lows, particularly meme coins facing extreme sell-offs. The ETHBTC pair is triggering lower levels from hundreds of daily lows, diminishing the appetite of altcoin investors. What could happen next?
Ali Martinez, who shared the above chart, warned altcoin investors of a greater selling potential. He noted, “Everyone expects a recovery between ETH and BTC. However, the chart suggests the ETH/BTC pair is forming an Adam & Eve pattern.” If confirmed, the target could be 0.0019 Bitcoin per Ethereum 
$1,993.
Latest Predictions for Altcoins
In recent hours, another analyst, DaanCrypto, has shared evaluations for altcoins. He pointed to the BTC.D chart, indicating he is closely monitoring the situation.
DaanCrypto stated, “BTC.D has been trading at a similar level for about two months. I believe that if we see a rejection from this point, it could lead to a significant downward movement.” His optimistic scenario contrasts sharply with Martinez’s expectations.
Sherpa summarized the situation for Near Coin, saying, “We are in a period of consolidation for most shitcoins, and we will see if they pause before going down another level.” The market remains uncertain, but clarity may soon emerge.