Why Bitcoin’s halving will be better for Ethereum, XRP, BNB price predictions

As per the latest data, the Altcoin market capitalization had reached a level that was historically followed by price upticks.Bitcoin is expected to undergo its fourth halving soon. Once executed, it will reduce the mining reward by 50%, decreasing from the current 6.25 to 3.125 bitcoins.

The previous halving happened back in 2020, when BTC’s block reward was reduced from 12.5 to 6.25. At a time when everyone had a keen eye on BTC, altcoins acted interestingly.If history is to be considered, each time the metric reached that level, altcoins began bull rallies in the following days. To be precise, similar incidents happened in 2021 and 2016.At press time, altcoins were having a tough time.

In fact, selling sentiment among funds and trust investors was high, as evident from its red Funds Premium. Derivatives investors were also selling ETH as its taker buy/sell ratio turned red., XRP was down by over 20% in the last seven days. The price drop triggered accumulation as buying pressure surged.

AMBCrypto’s analysis of Santiment’s data revealed that XRP’s exchange outflow spiked. The fact that buying pressure was high was also proven by its supply on exchanges, which dropped last week.Things for BNB also looked pretty optimistic. While most cryptos bled, BNB held its ground well, as its value surged by 1.3% in the last 24 hours.

While the coin’s price rose, its Open Interest also increased. A hike in the metric suggests that the ongoingLooking at the bigger picture, if XRP and BNB’s metrics translate into bull rallies, then they might lead the next altcoin season while post-Bitcoin halving.Dipayan is a full-time journalist at AMBCrypto. He has 2 years of experience in the content creation industry.

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