Week Ahead: Altcoin bulls vs. Bitcoin bears, who will win?
- Bitcoin's sell signal could threaten emerging altcoin narratives this week.
- Two of most important among the upcoming events include Do Kwon's trial and SBF's sentencing.
- The RWA narrative due to BlackRock's recent move could result in explosive moves.
This week’s outlook will be interesting as altcoin bulls try to go against Bitcoin’s bears. With an early Asian session pump in BTC, investors should ideally prepare for a US session sell-off. But if the pioneer crypto holds its ground, a few altcoins will likely trigger a rally.
Three non-narrative altcoins we are keeping an eye on:
- Ripple’s XRP token looks primed for double-digit gains - Read more.
- Litecoin, a laggard, also shows signs of a potential rally - Read more.
- Sushi’s big-picture outlook also breathes confidence for holders, but there’s a catch - Read more.
This week’s crypto events
March 25
- SEC vs. DO Kwon trial (LUNA, LUNC, USTC)
March 26
- ImmutableX (IMX) zK EVM hard fork mainnet
March 27
- VeChain (VET) VeBetter DAO mainnet beta
- APT Suervillain Idle RPG Release
March 28
- SBF Sentencing (FTT)
Token unlocks this week
- March 29 - Optimism (OP) $92 million
- March 31 - Echelon (PRIME) $40.20 million
- April 1 - dYdX (DYDX) 114 million
Crypto narrative - Real World Asset (RWA)
BlackRock’s tokenized fund allocation has kickstarted a rally among RWA-based tokens like Ondo (ONDO), Dusk (DUSK), Maker (MKR), Centrifuge (CFG), Avalanche (AVAX), Polymesh (POLYX) and so on.
Read more: Polymesh up nearly 80% after BlackRock's tokenized asset fund announcement
But this or any narrative that emerges this week is at the behest of the Bitcoin (BTC) price, which flashed a sell signal on the weekly chart. If BTC continues to crash, altcoins will likely follow suit.
Read more: Bitcoin Weekly Forecast: BTC may have recovered, but is it out of the woods?
Also read:
Author
Akash Girimath
FXStreet
Akash Girimath is a Mechanical Engineer interested in the chaos of the financial markets. Trying to make sense of this convoluted yet fascinating space, he switched his engineering job to become a crypto reporter and analyst.
