Ethereum price is now the center of attention but options data shows pro traders are still wildly bullish on Bitcoin price.
Bitcoin could consolidate for a few more days as the action shifts to Ether, XRP and other large-cap altcoins.
Bitcoin’s sharp bounce off the intraday lows today indicates a possible move to all-time highs and select altcoins may join the party.
Bitcoin price is back on the path to a new all-time high, and it seems altcoins intend to follow suit.
Numerous on-chain indicators suggest Ethereum price is on the verge of another 2017-style bull run.
Bitcoin has resumed its journey toward a new all-time high, and the renewed bullish momentum is pulling altcoin prices higher.
If Bitcoin consolidates near $16,000 for a few days, traders may shift their attention to altcoins and DeFi tokens.
A few altcoins are trying to start a new up-move even though Bitcoin is struggling to pull above $16,300.
Options data shows pro traders are not confident that Ethereum price will follow Bitcoin’s rally to new 2020 highs.
Bitcoin and several altcoins are showing signs of breaking above their overhead resistance levels, which suggests bulls remain in control.