Bitcoin Creates Strong Tailwind as Traders Rotate Capital into Altcoins

Bitcoin’s price has begun consolidating following its immense surge seen throughout the past 48 hours Yesterday afternoon, it rallied as high as $13,200 before it found any strong resistance that forced it lower Unlike the trend seen during fleeting upsurges, Bitcoin did not retrace that far into its recent rally following the rejection at these highs This indicates that bulls are in control of the asset at the moment and may indicate that further upside is imminent One analyst is noting that he is taking some steps to hedge his Bitcoin exposure. He said that he is now rotating into altcoins Bitcoin and the entire crypto market have been caught in the throes of a firm uptrend. While, initially, BTC was the only asset to rally, altcoins are now catching up as they follow Ethereum higher. This recent price action has been different than rallies seen in the past, as…

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