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According to a recent analysis by Santiment, the coming week will be crucial for the cryptocurrency market as (BTC) and (ETH) will post 24-hour gains. This comes after a week in which Bitcoin saw a rise of over 6% in four days, while BTC and ETH remained relatively stable.
Year to date, BTC is up 1.12% to reach $34,941.48, while ETH is up 2.03% to $1,835.44. Although BTC hit its 24-hour high from a daily low of $34,111.97, its market dominance declined slightly by 0.20%, suggesting that altcoins may have performed better.
Currently, BTC accounts for 52.48% of the total cryptocurrency market capitalization. Both BTC and ETH have shown positive performance over the past week. The analysis suggests that if cryptocurrencies can break away from the influence of the stock market, they could potentially trigger the next bull cycle in the industry.
This week’s performance will be crucial in determining whether the cryptocurrency market continues its connection with the stock market or begins a separate bull run.
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