Viewpoint: Most currencies have not reached ATH, which may indicate that Bitcoin still has a lot of room to rise

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According to ChainCatcher, citing data analysis from Sentimentrader, the vast majority of cryptocurrencies are currently not within 5% of their 252-day highs.

In contrast, when Bitcoin set new records in February and November 2024, approximately 75% and 40% of cryptocurrencies were within 5% of their 252-day highs, respectively.

Historically, Bitcoin tends to pull back when a large number of cryptocurrencies are trading close to their historical peaks. The current divergence suggests that Bitcoin may have more room for growth.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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