An analyst who continues to grow a following with timely Bitcoin calls is adjusting his outlook to include a scenario where BTC massively outperforms altcoins.
Pseudonymous analyst Credible tells his 467,100 followers on X, formerly Twitter, that the capital flows indicate Bitcoin is setting up for another upside burst.
According to the trader, BTC demand appears to be meeting selling pressure above $90,000 as its cumulative volume delta (CVD), an order flow tool tracking the difference between market buy and sell orders, cools off.
"Bitcoin is looking really healthy here. Nice impulsive looking move up followed by a spot CVD full reset, but with price actually moving up. Clear signs of significant seller absorption.
Meanwhile, funding is negative/neutral. Only positions I’d consider due to the above would be longs or nothing."
While the analyst believes that Bitcoin looks bullish, he notes that most altcoins will likely be left behind once BTC rallies. Credible predicts that altcoins will begin catching up to BTC after Bitcoin hits a new all-time high.
"With BTC looking quite strong here, there is a chance that it could lead the next leg with a breakout to the upside. If this occurs, it’s possible we see a small window where BTC leads before alts follow, leading to an ALT/BTC ‘capitulation’ move.
The implication would be that BTC could see $125,000-$135,000 before alts like CRV kick into gear and start moving up themselves."
At time of writing, Bitcoin is trading for $94,182.
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