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Opinion: Currently, most coins have not reached their ATH, which may indicate that Bitcoin still has significant upside potential
BlockBeats News, July 12th, according to The Kobeissi Letter citing data analysis from Sentimentrader, the vast majority of coins are currently not in their all-time high range (within 5% of their high in the past 252 days).
In contrast, when Bitcoin hit new highs in February and November 2024, approximately 75% and about 40% of cryptocurrencies were within 5% of their 252-day highs, respectively.
Historically, when a large number of cryptocurrencies are trading near their all-time highs, Bitcoin tends to pull back. The current divergence suggests that Bitcoin may still have more room to grow.
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