Bitcoin lags behind as altcoins XRP, SOL, and DOGE dominate crypto markets
Bitcoin is being outshined by its scrappier rivals. Today, its price climbed 2.9%, reaching a high of $97,526. While respectable, it couldn’t hold a candle to the fireworks set off by altcoins.
XRP, Ethereum, and Dogecoin surged over 4%, while Solana rocketed 8.2%, leaving Bitcoin looking like the guy still tying his shoes at the starting line.
Investors, eager to start the year on a high note, are throwing their weight behind altcoins. Historically, crypto tends to flex its muscles in the first quarter, and this year seems to be no different.
Altcoins steal the show
Wall Street’s crypto darlings are also catching the wave. Coinbase shares rose 5.6%, MicroStrategy jumped 7.3%, and MARA Holding spiked over 8% on the first trading day of 2025. Even so, crypto prices haven’t yet recovered their December highs, which makes them look like a bargain to opportunistic buyers.
Analysts are calling this altcoin rally a bet on the bull market’s longevity. The politics of this surge can’t be ignored. With Donald Trump set to take office soon, many investors are banking on a crypto-friendly environment.
Altcoins that previously caught the SEC’s attention, especially XRP, are suddenly swimming in the capital. Trump’s pro-crypto nominees to key positions are giving the market a confidence boost.
On-chain data points to a cooling-off phase
Bitcoin had an outstanding 2024. After recently crossing $108,000, a price correction kicked in, making folks worry about whether this bull cycle is gonna stumble into another prolonged cooldown, like the six-month slump that happened last March.
Data suggests otherwise, but traders aren’t taking their eyes off the ball. Bitcoin’s Adjusted SOPR (Spent Output Profit Ratio), smoothed out over seven days, shows a downward trend. It’s above 1, but if it drops below, historical patterns suggest Bitcoin could rebound as selling at a loss triggers reversals. Bull market habits die hard.
Another key stat is the Miner Position Index (MPI). Miners, who typically unload Bitcoin around halving events or market peaks, are holding steady for now. MPI, also averaged over seven days, shows no signs of miners dumping coins en masse. Instead, they’re selling just enough to cover operational costs, keeping most of their Bitcoin in reserve.
Transaction activity also shows the cooling phase. Network fees, smoothed over a seven-day average, are dipping, signaling less on-chain action. This just means the market is catching its breath after running hot. Funding rates, too, have turned negative, which could set the stage for another bounce if sentiment sours some more.
A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.
Read More
Bitcoin lags behind as altcoins XRP, SOL, and DOGE dominate crypto markets
Bitcoin is being outshined by its scrappier rivals. Today, its price climbed 2.9%, reaching a high of $97,526. While respectable, it couldn’t hold a candle to the fireworks set off by altcoins.
XRP, Ethereum, and Dogecoin surged over 4%, while Solana rocketed 8.2%, leaving Bitcoin looking like the guy still tying his shoes at the starting line.
Investors, eager to start the year on a high note, are throwing their weight behind altcoins. Historically, crypto tends to flex its muscles in the first quarter, and this year seems to be no different.
Altcoins steal the show
Wall Street’s crypto darlings are also catching the wave. Coinbase shares rose 5.6%, MicroStrategy jumped 7.3%, and MARA Holding spiked over 8% on the first trading day of 2025. Even so, crypto prices haven’t yet recovered their December highs, which makes them look like a bargain to opportunistic buyers.
Analysts are calling this altcoin rally a bet on the bull market’s longevity. The politics of this surge can’t be ignored. With Donald Trump set to take office soon, many investors are banking on a crypto-friendly environment.
Altcoins that previously caught the SEC’s attention, especially XRP, are suddenly swimming in the capital. Trump’s pro-crypto nominees to key positions are giving the market a confidence boost.
On-chain data points to a cooling-off phase
Bitcoin had an outstanding 2024. After recently crossing $108,000, a price correction kicked in, making folks worry about whether this bull cycle is gonna stumble into another prolonged cooldown, like the six-month slump that happened last March.
Data suggests otherwise, but traders aren’t taking their eyes off the ball. Bitcoin’s Adjusted SOPR (Spent Output Profit Ratio), smoothed out over seven days, shows a downward trend. It’s above 1, but if it drops below, historical patterns suggest Bitcoin could rebound as selling at a loss triggers reversals. Bull market habits die hard.
Another key stat is the Miner Position Index (MPI). Miners, who typically unload Bitcoin around halving events or market peaks, are holding steady for now. MPI, also averaged over seven days, shows no signs of miners dumping coins en masse. Instead, they’re selling just enough to cover operational costs, keeping most of their Bitcoin in reserve.
Transaction activity also shows the cooling phase. Network fees, smoothed over a seven-day average, are dipping, signaling less on-chain action. This just means the market is catching its breath after running hot. Funding rates, too, have turned negative, which could set the stage for another bounce if sentiment sours some more.
A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.
Read More