Analysts say this key metric suggests an altcoin season is at hand
A series of new all-time highs from altcoins and a drop in the Bitcoin dominance metric has many analysts convinced that an alt season has started. Bitcoin’s (BTC) 65% recovery from sub-$29,500 on July 20 to a swing high of $48,200 on Aug. 14 took less than a month and helped bring fresh bullish momentum back to the crypto market and to traders who were dreading the prospect of another prolonged bear market.Currently, the BTC rally has stalled out near the $46,000 price level, and this phase of sideways trading is giving altcoins an opportunity to step forward. As shown in the chart below,....
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Altcoins have been on a real tear for months, but Jarvis Labs analyst Ben Lilly says we’re not in an "alt season" just yet. Few traders would argue against the fact that Bitcoin (BTC) is in a bull market, but there is less consensus on whether the market is in the midst of an "altcoin season." A quick view of Crypto Twitter shows the schism between traders who are certain we are halfway through alt season and those who believe it has yet to begin.Typically, traders rely on a wide swath of indicators and metrics, like Bitcoin’s total market capitalization versus the total altcoin market....
Bitcoin price is struggling to break through resistance at $50,000, and it could partially be altcoins to blame for the weakness. The most recent technical structure on the highest time frames suggests that not only could alts continue to gain against BTC dominance, altcoin season itself could last a while longer. Bitcoin Dominance And Technical Analysis Using The Metric Technical analysis is a subjective art. The practice has enough naysayers as is, but even those that subscribe to the study don’t always believe that all charts are created equally. For example, there are several....
Many crypto analysts and investors are still eagerly anticipating the arrival of a full-blown altcoin season in this market cycle. While some surges have been observed in individual altcoins like Solana and XRP, the broader alt market has yet to see the kind of explosive rally that characterizes an official altcoin season. This delay is […]
According to CryptoQuant’s data, the long-awaited altcoin season may have officially arrived. The CEO of the crypto market company, Ki Young Ju, has pointed out a significant surge in altcoin volume on Centralised Exchanges (CEXs). Related Reading: Bitcoin’s Grip Tightens — CZ Says There’s ‘No Escape’ From Crypto CryptoQuant CEO Says Altcoin Season Has Begun Presenting a detailed price chart of the volume ratio of Bitcoin versus altcoins on CEXs, Ju disclosed that altcoins have been seeing significantly higher trading volume than BTC. Unlike previous bull market cycles, Bitcoin Dominance....
In recent months, the altcoin market has been sluggish. With fewer retail traders actively participating, analysts have predicted a delayed altcoin season. While the buzz is there, the market is still in the early stages of the speculative phase. It’s a bit like waiting for a slow-cooked stew to reach its peak — the flavors […]