Analyst Claims Altcoins Remain Bearish as Ethereum Struggles to Rally

EmlHVF2WMAUpGnp 777x660

Altcoins have been moving significantly higher throughout the past few days and weeks, with the DeFi sector, in particular, seeing some immense momentum This comes after a multi-month phase of losses that altcoins faced, with those residing within the DeFi sector being struck particularly hard by this Ethereum’s recent explosive rally higher, however, helped put a firm end to this trend The cryptocurrency did see a retrace last night, however, and it is once again being outperformed by Bitcoin One trader is now noting that the aggregated market cap of altcoins compared to that of Bitcoin is painting a grim picture for the smaller tokens Ethereum has been firmly guiding altcoins throughout the past few days and weeks, with smaller tokens closely following in its footsteps. Although the past week has been incredibly bullish for altcoins, Bitcoin’s ongoing push past $16,000 is once against sucking the oxygen out of the…

Read the original article here