Bitcoin Dominates Crypto Alone

The crypto market has different inner cycles. First, the money flows into Bitcoin to " revive " the market in deep bear seasons. After the spike in the price of Bitcoin, we see the green days in the top 50 altcoins in the second phase of the bullish sentiment.

When the price of top coins starts to double and triple, it is time to find the gems in the market. The last phase is the time when every coin starts to rise. From the side of technical analysis, the coins are able to break the first resistance level to enter a channel with higher price ranges.

This is the ultimate cycle of crypto that we are familiar with. The only missing piece in the puzzle is the freshly launched Bitcoin Spot ETFs which made Bitcoin accessible for everyone thanks to the giant institutions' Bitcoin products.

Before discussing the arrival of altseason, we may need to discuss the catalysts of the price action in Bitcoin. As we mentioned earlier, Bitcoin ETFs are one of the most influential phenomena. Apart from the financial side, we can place mass adoption in the second position.

Similar to the mission attributed to Gold, Bitcoin, broke above strong $48K and tested $50K already is also seen as a way to escape from the vicious fiat money cycle that melts the purchasing power of people due to the inflation in the currencies. The steps taken by El Salvador, the positive attitude of the PM of Argentina, and several other influencers' stances on Bitcoin also created a positive atmosphere for Bitcoin to rise.

As a solid example of what Bitcoin adoption really is, Bitcoin integration in Lation America demonstrates the inevitable future of blockchain use in our lives to save and exchange assets. In the current state of crypto market, Bitcoin is around 30% away from without a serious bull market conditions. This is one of the indicators that the whole market has a massive potential to test new all time high levels with more money flowing into the ecosystem.

In many perspectives, crypto is becoming a useful part of our lives. The mass adoption will be accelerated thanks to the acknowledgment of Bitcoin as a financial asset via spot ETFs. Recently, MasterCard launched NFT trivia game that is specifically for UEFA Champions League. Considering the importance of MasterCard as a giant, this is something big for our ecosystem. Moreover, the participants may win UEFA Champions League tickets with the gamification on MasterCard's platform.

We can see all these updates as the base of a better future. Following the Spot Bitcoin ETFs, we may witness Ethereum, XRP, and some other top 10 coins' spot ETFs approved by the SEC. The technical updates on Ethereum such as ERC 404 projects will make blockchain useful for many businesses.

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