Back-to-Back Mornings of New Bitcoin All-Time Highs

Bullish momentum has firmly returned as Bitcoin set another all-time high overnight at $107.8k. However, this surge wasn’t mirrored across the broader crypto market. Ethereum and Ondo were among the few assets that remained in the green over the last 24 hours. Prior to yesterday, most coins enjoyed an impressive rally but have since seen a healthy and measured pullback. Notably, Fantom (FTM) surged as high as 24% before undergoing a modest 6% retracement.

As we edge closer to the interest rate decision and the Christmas season, Bitcoin continues its upward trajectory, fueled by optimism surrounding these anticipated bullish catalysts.

Despite Bitcoin’s rally and its fresh all-time high, altcoins have delivered mixed results. The altseason index has slipped to 65, while Bitcoin dominance has rebounded, showing signs of a potential trend reversal. After bottoming at 54.56% on December 3rd, Bitcoin dominance now trades just shy of 58%. Although not yet a full-fledged reversal, it has established a higher low and appears poised to print a higher high on the daily timeframe.

Ethereum remains in a downtrend against Bitcoin, having set yet another lower high, further cementing its bearish structure. Until Bitcoin dominance breaks down decisively and we see consistent outperformance from altcoins, the long-awaited altseason remains on hold.

The path to success is clear: buy and hold Bitcoin. Don’t overcomplicate things. For more on this topic, check out our recent Thunder Trading article: Overtrading Leads to Underperformance.

For investors feeling underexposed or worried about missing out, this is just the beginning. Strengthening your Bitcoin position or acquiring quality altcoins could yield substantial long-term gains. The crypto market is still in its early growth phase, providing believers with a prime environment to capitalise. Contact your Stormrake Crypto Broker today to seize this moment.

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