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Bitcoin might not be ready to explode just yet, but Ethereum could steal the spotlight.
According to Santiment analyst Brian Quinlivan, many people online are already celebrating Bitcoin’s next big high. That’s usually a warning sign. When everyone’s bullish, the market tends to do the opposite.
“Retail hype is a curse,” Quinlivan hinted.
Bitcoin came close to its all-time high several times. That could lead to a breakout — just not how traders expect. Its current price is $109,679, barely below the May high of $111,970.
A few more fake-outs could frustrate retail investors, which might actually set Bitcoin up for a true breakout.
The market’s mood right now? Greedy. The Fear & Greed Index is sitting at 72 out of 100.
But here comes the buzzkill: Q3 is usually Bitcoin’s worst performer. It’s been that way since 2013. On average, Q3 only brings a 6% return, while Q4 rockets with 85% gains.
Dr. Sean Dawson at Derive says, “Bitcoin may lag behind in Q3.”
Why? Because the Fed might hold interest rates steady. That’s bad news for those hoping for big BTC profits.
On the flip side, Ethereum is looking lively. It was down to $1,472 in April, but now it’s bouncing near $2,800. That’s a big leap.
Quinlivan says investors are finally noticing ETH. It’s been playing catch-up while Bitcoin hogged the gains.
Summer usually means lower trading volume. Investors take vacations. That means choppy price action, sideways movement, or dips as people cash out.
“It’s like a summer snooze-fest,” Dawson says.
Ethereum could use that slowdown to shine.
