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Analyst: If the US strategic BTC reserve is approved, it may trigger a market rise first and then fall
Golden Finance reported that after US Senator Lummis proposed the US government’s acquisition of 5% of the BTC supply, Ben Simpson, the founder and CEO of Collective Shift, analyzed that if the strategic BTC reserve is approved, the market is expected to become unstable, BTC will pump, and then may fall back. As for the current market situation, Ben Simpson believes that BTC’s dominance (the measure of the proportion of BTC in the total market value of the cryptocurrency market) will ‘begin to decline’, and as BTC begins to consolidate around $100,000 and Altcoins start to ‘rise’, the market ‘rotation’ to Altcoins has actually begun, but it should not directly enter the so-called alts season.