Posted 11/3/2023, 6:41:00 PM
Bitcoin Stalls While Ether and Altcoins Surge in Early Bull Market Rotation
- Bitcoin (BTC) stalled around $35,000 this week as gains flowed to altcoins in early bull market rotation, analyst says
- BTC tried and failed to break above $35K, while ether (ETH) and altcoins like Avalanche (AVAX) jumped 10-15%
- Decentralized finance (DeFi) tokens posted biggest weekly advance, driven by double-digit rallies
- Analyst says rotation into riskier assets suggests capital moving from BTC/ETH after sizable rallies
- Despite rotation, demand appears organic and spot-led, though momentum may be overheated short-term