- Weak altcoins drop in price showing no support for lack of utility.
- Meanwhile, analysts expect utility tokens to pump in the coming days ahead.
- Altcoin price chart completes bullish golden cross pattern suggesting new ATHs soon.
Bitcoin (BTC) price struggles to reclaim its 6-digit price range and continues to flounder around the $96,000 – $98,000 price mark. The fall in BTC price is slowly reflecting on altcoins that showed positive gains over the last few weeks. Will Bitcoin and altcoins pump together or will one continue to dominate in the months ahead?
Previously Bullish Altcoins Fall in Value
According to Messari, since ATH, the average decline of five well-known celebrity coins, MOTHER, DADDY, TRUMP, MELANIA and JAILSTOOL, has reached 78%, of which TRUMP has fallen by more than 60% and MELANIA has fallen by more than 80%. To highlight, MOTHER and DADDY have never returned since reaching ATH in June-July 2024, and their declines have exceeded 80%.
Is Bitcoin responsible for the fall of these coins or has the time come for the bull cycle to have flushed out tokens with no utility? Is this the moment int he bull cycle where value starts to pump into promising altcoins that will pump alongside Bitcoin when the long correction phase turns from a sluggish sideways movement into much greater new ATH territory?
New Altcoin ATHs on the Horizon
Most analysts are certain that the price of Bitcoin will go on to set much higher targets in the months following the New Year. Now in month two of 2025, this sentiment has not dwindled. In fact, signs like the golden cross in the altcoin chart in the post above suggest that the peak of the altseason will arrive soon and new ATHs will be set soon.
