The global crypto market has fallen by 2.63% in the past 24 hours, with the total market cap now at $3.95 trillion. Bitcoin dropped 2.81% to around $118,500, while Ethereum slipped 0.69% to $4,278. Other altcoins also saw declines, with XRP down 4.46%, BNB losing 1.94%, and Solana falling 5.94%.
Analyst Erik Crown has warned that the current crypto cycle is unlike anything we’ve seen before. In past bull markets, like 2017 and 2021, prices tended to shoot up quickly after breaking all-time highs, ending in a dramatic “blow-off top.”
However, this cycle has been marked by three unusually long correction periods, each lasting about six months. Bitcoin has traded in tight ranges for five to seven months at a time, something Crown says is “completely uncharacteristic.”
While Bitcoin may be slowing down, Crown predicts that Ethereum could outperform in the short term and the next few months will…
