Bitcoin (BTC) Price Prediction 2021 – Will BTC Continue Outperforming Altcoins?

The influx of funds into Bitcoin [BTC] ETFs during the first week of President Trump's second term. Investor sentiment towards BTC was strong

The first week of President Trump’s second term saw a massive influx of funds into Bitcoin [BTC] ETFs. While investors flocked to BTC, showing strong preference, inflows into Ethereum ETFs paled in comparison.

According to data from ETF Flows, Bitcoin ETFs witnessed inflows of $1.76 billion during the first seven days of the new presidential term. This substantial figure played a key role in pushing Bitcoin past the $109,000 mark. Notably, BlackRock’s Bitcoin ETF saw daily inflows of $155.7 million in the last 24 hours as of press time.

In stark contrast, Ethereum ETFs garnered a considerably smaller amount of $139.4 million. This disparity highlighted a relative lack of momentum in ETH prices, which remained 27% below their all-time high, as noted by SpotOnChain.

This disparity suggested that Bitcoin might be perceived as a safer or more promising investment compared to Ethereum under the current market conditions.

Bitcoin might steal the show, leaving altcoins behind

This trend could potentially establish BTC as the standout asset, especially if similar patterns continue, overshadowing altcoins like Ethereum, which are experiencing a less dynamic growth or remaining stagnant.

As the first quarter of 2024 drew to a close, Bitcoin’s price movements hinted at a bullish continuation. After a brief downturn below $100,000, BTC recovered swiftly, maintaining a price range that suggested further gains.

In the shorter time frames, Bitcoin displayed a bullish structure, while on the longer time frames, a bearish Stoch RSI cross hinted at a potential downtrend from the cycle top around 62%, which saw minor upticks quickly being reversed. This behavior could pave the way for altcoins to thrive, potentially signaling the beginning of an altseason.

However, this might not occur as predicted, as it could be delayed. Conversely, the altcoin market cap showed consolidation just below its all-time highs, with no significant breakouts seen yet. This suggested a period of indecision, characterized by choppy price action within a defined range. This behavior indicated that performance may vary significantly among different altcoins and sectors.