Bitcoin Rally Fuels Altcoin Gains Amidst Upcoming Market Risks

Bitcoin's price has surged past $69,500, leading to significant gains in major altcoins. This uptrend is attributed to growing risk appetite ahead of NVIDIA's earnings report.

The market sentiment turned bullish, but analysts caution that upcoming geopolitical discussions with Iran and economic data releases could dampen the mood.

Crypto strategist Benjamin Cowen analyzed historical data to project Bitcoin's price movements for February, March, and April. He noted that Bitcoin tends to weaken in February before regaining traction at the start of March, only to trend downward again by April.

A pseudonymous analyst On-Chain Mind emphasizes the importance of the 140-day mark since Bitcoin's last all-time high. They argue that this period is relatively short and that further declines are more likely before a sustained recovery emerges.