Bitcoin’s price holding at $26,000 presents bullish trading opportunities for altcoins such as TON, XMR, MNT, and QNT. CryptoQuant CEO Ki Young Ju notes that Bitcoin’s velocity has hit a 3-year low, suggesting that whales are holding onto their positions. JPMorgan analysts believe that Bitcoin’s downtrend may be ending, as the declining open interest in Bitcoin futures contracts indicates that the long liquidation is over. Altcoins may offer short-term trading opportunities if Bitcoin remains range-bound or turns upwards.
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