Analysts predict a bullish trend for Ethereum amid the fall of bitcoin

The cryptocurrency market is on the verge of important changes, and leading analysts predict significant growth of alternative cryptocurrencies amid the expected drop in bitcoin BTC $95,216.49 Bitcoin -0.94% Market capitalization $1.88 trillion VOL. 24 hours $3.39 billion .

Mikybull, a well-known crypto trader , predicts that if bitcoin continues to fluctuate in the range of $ 94,000-$ 95,000, alternative cryptocurrencies, in particular Ethereum ETH $3,558.19 Bridged Ether (StarkGate) -0.15% Market capitalization $0.31 billion VOL. 24 hours $2.39 billion , have every chance of significant growth.

He noted that the dominance of altcoins has gone beyond the trend line, signaling that a new wave of growth is coming in the coming weeks.

Mikybull suggests that Ethereum has already begun to move towards the next stage of its growth and predicts that the token could reach $ 6,000.

According to him, this is part of the beginning of the «Altseason» — a period when altcoins significantly exceed bitcoin in terms of growth.

Also, analyst Michael van de Poppe emphasized that the main factor behind Ethereum’s growth is related to the fall in government bond yields. This creates a complex interaction between traditional financial instruments and digital assets.

In particular, he noted that the positive dynamics of Ethereum is the result of the impact of changes in the yield market. Therefore, weak labor market data may prompt the US Federal Reserve to cut rates further. This could lead to an increase in the price of Ethereum.

Current data from CME’s FedWatch tool reportedly indicates a shift in the probability of rate cuts, which could also contribute to Ethereum’s growth.

After Ethereum broke through the $ 3,500 mark for the first time in four months, there has been a strong inflow of capital into Ether-based ETFs. This indicates a growing interest in this cryptocurrency.

According to indicators, the cryptocurrency market may be on the verge of «Altcoin Season,» a period when 75% of altcoins exceed bitcoin in terms of growth.

As it is known, on November 26, the price of bitcoin fell to $ 92,600, setting a local low. This happened after a sharp decline of $ 5,000 per day on November 25, which led to the liquidation of cryptocurrency positions worth more than $ 500 million.