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Analysis: Most Cryptocurrencies Not at All-Time Highs, Signaling Potential for Bitcoin to Rise Further

Summary: According to The Kobeissi Letter citing data analysis from Sentimentrader, the majority of cryptocurrencies are not currently within the 5% range of their all-time highs (ATH) within the past 252 days. In contrast, when Bitcoin set new records in February and November 2024, around 75% and 40% of cryptocurrencies were within 5% of their 252-day ...

According to The Kobeissi Letter citing data analysis from Sentimentrader, the majority of cryptocurrencies are not currently within the 5% range of their all-time highs (ATH) within the past 252 days. In contrast, when Bitcoin set new records in February and November 2024, around 75% and 40% of cryptocurrencies were within 5% of their 252-day highs. Historically, when many cryptocurrencies are trading near their ATH, Bitcoin tends to pull back. The current divergence suggests that Bitcoin may have more room to rise.

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