In a recent Twitter thread, the esteemed crypto trader Kaleo (@CryptoKaleo) issued a word of caution to his followers. With a professional tone, Kaleo urged his audience to exercise caution when interpreting bullish altcoin USD charts to avoid potential traps.
According to the analyst, the current breakout of Bitcoin (BTC) suggests a bullish outlook for altcoin USD charts. However, Kaleo advises traders to shift their focus towards altcoin BTC charts, which he deems exhibiting unfavorable trends.
KALEO’s tweet culminated in a recommendation for traders to allocate a significant portion of their trading capital towards BTC. In a subsequent comment, the trader expressed optimism for the altcoin market, predicting a boom in 2024 and 2025. KALEO advised traders and investors to exercise patience in the meantime.
According to the latest update from CoinMarketCap, BTC has registered a notable surge of over 6% in the past 24 hours, with its current trading price at $30,125.45. Moreover, the top cryptocurrency has witnessed a commendable growth of over 7% in the last seven days, consolidating its position as the market leader.
The collective market cap of the global crypto market has surged by a notable 4.37%, reaching a staggering $1.24 trillion. In the past 24 hours, Bitcoin’s dominance in the market has also witnessed a commendable uptick of 0.83%, elevating its dominance to an impressive 47.02%. These developments signify a promising trend for the crypto industry, highlighting its potential for growth and expansion.
Bitcoin (BTC) has demonstrated its dominance in the cryptocurrency market by surpassing Ethereum (ETH) in market cap by 2.98% in the last 24 hours. This impressive feat has resulted in BTC gaining a 2.97% advantage over ETH. Furthermore, BTC’s trading volume has skyrocketed by 93.19% in the last 24 hours, bringing its total daily trading volume to approximately $23,925,513,096 at the time of writing. These figures highlight the strength and resilience of BTC in the ever-evolving world of digital currencies.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
