Summary: Bitcoin Enters Wyckoff Distribution — Time For Altcoins To Shine?

Bitcoin's Shifting Tides: A Potential Wyckoff Distribution and Altcoin Ascent The Bitcoin market is displaying clear indicators of an unfolding Wyckoff Distribution phase, signaling increasing selling pressure and hinting at a more profound corrective period. Crypto analyst João Wedson highlights that this pattern suggests institutional investors are strategically exiting their positions, even as retail traders maintain optimism. Wedson’s analysis details the typical 13 phases of the Wyckoff Distribution model. It commences with a Preliminary Supply (PSY) and a Buying Climax (BC), where demand becomes exhausted, leading to a price peak. A sharp Automatic Reaction (AR) follows, marking the bottom of the distribution range. Subsequent Secondary Tests (ST) see price retesting previous highs but with weaker momentum and volume. The later phases, C and D, reveal a crucial Sign of Weakness (SOW) characterized by a strong, high-volume breakdown, and a Last Point of Supply (LPSY), a weak rally that sets up ideal short positions before a final, deeper decline. In stark contrast to Bitcoin's projected downturn, Wedson foresees a significant shift towards altcoins. He posits that altcoins are currently moving out of their accumulation phases and are being strategically positioned for substantial "structural markups," indicating a looming altcoin rally. The analyst predicts a complete market rotation from Bitcoin to altcoins, and ultimately to fiat currency, by the close of 2025. As this potential transition looms, Bitcoin's price currently stands around $113,439, having shown little significant movement in the past 24 hours.