Coinbase Predicts Altcoin Rally Following Trump’s Inauguration
- A cryptocurrency exchange anticipates a significant altcoin market rally after Donald Trump assumes the US presidency on January 20.
- Coinbase analysis suggests traders are positioning for this rally, driven by a decrease in Bitcoin dominance from 58.5% to 57.3%.
- The total crypto market cap stands at $3.5 trillion.
- Stablecoin inflows increased by $1.3 billion, with substantial capital moving to altcoins while Bitcoin and Ethereum experienced outflows of $457 million and $206 million, respectively.
Coinbase’s report indicates that the anticipated altcoin surge is linked to declining Bitcoin dominance and increased stablecoin inflows, suggesting strategic positioning by traders ahead of Trump’s presidency.
Source (2.6)https://www.newsbtc.com/altcoin/coinbase-sees-rising-altcoin-interest-as-traders-prepare-for-big-moves/?rand=52377
