The Crypto Bull Run May Not Prevail this Month as in January- Will the Bears Take Back the Control?
It is pretty difficult to predict the short-term behaviour of the crypto prices within an uncertain environment. Just last month, the market was extremely bullish as the prices jumped steadily. However, the trend may not remain the same this month as the bears or the forces driving the prices lower may regain dominance and reverse the upward trend. However, the small and the mid-cap altcoins have displayed notable strength which suggests the flow of liquidity within the markets.
Data from Santiment suggests the trader’s sentiments have flipped slightly from being extremely bullish to slightly bearish. The flipped sentiments may have restricted the crypto markets to testing the next higher targets. Hence the price of the top cryptos is believed to remain consolidated while the small to mid-cap altcoins may swell their market capitalization in the coming days.
“February hasn’t seen a repeat of excitement for Bitcoin or Ethereum like we saw in January. But altcoins like HEX(+64%), TMG(+7-%), and GRT(+66%) have had other plans this past week. Be cautious, though, when money is cycling into mid-small caps without top cap rising,”
The crypto markets have become highly volatile being practically not possible to predict its upcoming trend. Some of the altcoins such as Litecoin, Aptos, Shiba INU, and XRP are receiving more attention at the moment. Therefore, a notable rally may kick in if the BTC price continues to maintain about $22,800 until the day close.