What Next?
The BTC price rally today impacted the wider altcoin market led by Ethereum (ETH), XRP, and Solana (SOL). Following the sudden BTC price pump in the past 24 hours, more than $496 million was liquidated, with the majority involving short traders.
Consequently, the odds of a short squeeze significantly increased, which could further fuel bullish sentiment in the coming days and possibly weeks. According to James Seyffart, an ETF and crypto reporter at Bloomberg, the altseason 2025 could have started with a BTC price pump towards a new ATH.
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