Cryptocurrency analytics firm Alphractal has provided insights into the market cycle, highlighting the correlation between Bitcoin (BTC) and altcoins. The firm found that altcoins have a stronger correlation with Bitcoin than with Ethereum (ETH), which can serve as a sentiment indicator for traders and investors. Alphractal also analyzed the BTC-ETH correlation over an eight-week period and observed that when the correlation is low, Bitcoin tends to impact Ethereum's momentum, potentially indicating a shift in Bitcoin's trend. Additionally, Alphractal examined Bitcoin addresses and found that 90.8% are still in profit, suggesting a bullish market trend despite some addresses being in a loss position. The firm concludes that a higher percentage of addresses in a losing position does not necessarily signal the end of the bull cycle, as short-term downtrends are common within a broader bull market.



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