Bitcoin supply shocks have historically pushed the asset’s price higher. Bitcoin’s previous rallies have been triggered by a drop in supply across exchanges and a spike in whale accumulation.
Ethereum price has finally caught up with Bitcoin’s price action by displaying a bullish condition within the Ichimoku Kinko Hyo system. There were some concerns about whether Ethereum was positioning for a bull trap, but those fears were mainly laid to rest.
XRP price has been struggling lately on a lower time frame, while altcoins are enjoying massive bull rallies. However, on the weekly chart, Ripple indicates that it is forming a massive bullish pattern that could propel it higher.