Altcoin
Season Returns:
Index Hits January High
as Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Trails 38 Cryptos
Today, 38 out of the top 50 cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта have performed better than
Bitcoin (BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin) over the last 90 days. As a result, the altcoin season index has
hit its highest level since January.
This development has sparked widespread optimism in the market, with many
speculating that the prices of these altcoins could go much higher over the
next few months. But could this be feasible?
Altcoins Take Over, but Analysts Differ on Reason for Surge
For those unfamiliar, the altcoin season index provides real-time insights
based on the performance of the top 50 cryptos relative to Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin. Typically,
when the index is 25, it means that Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin has the upper hand. It also
indicates that it has outperformed at least 75% of the top 50 coins.
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On the other hand, when the Altcoin Season Index hits 75 or higher, it
signifies the start of an altcoin season . In this instance, most of the top
50 assets outperform BTC. As of now, the index stands at 78, confirming
speculation that altcoins could continue to outpace BTC in the coming months.
This level marks the highest reading since January 22. During that period,
altcoins maintained strong performance until March, when their dominance
waned. In the current cycle, BeInCrypto notes that Stellar (XLM), Hedera
(HBAR), and Ripple (XRP) are leading the charge. Altcoin Season Index. Source:
Blockchaincenter
However, Ki Young Ju, CEO of CryptoQuant, offered a different perspective on
the current altcoin season. According to him, this phase isn’t primarily
fueled by a rotation of liquidity from Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin.
He, however, noted that the major driver is the increased accessibility and
usage of stablecoins and fiat pairs. This shift suggests that new capital
entering the market might be significantly driving altcoins’ performance.
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“Alt season is no longer defined by asset rotation from Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin. The surge in
altcoin trading volume isn’t driven by BTC pairs but by stablecoin and fiat
pairs, reflecting real market growth rather than asset rotation,” Ki Young Ju
emphasized on X. Altcoin Trading Volume for Stablecoin Pairs. Source:
CryptoQuant
But crypto analyst Rekt Capital seemed to have a different opinion. On
November 30, the analyst highlighted that the drop in Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin dominance ,
which is currently around 56%, indicates that money is flowing into Ethereum
(ETH• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum) and other altcoins.
“Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin ranging between $91,000 and $100,000 may very well be a recipe for
Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum to take the lead and enable money flow into smaller Altcoins,” Rekt
Capital wrote .
Analysis Hints at Higher Highs for Alts Market Cap
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Analysis of TOTAL2, an indicator that measures the market cap of the top 125
altcoins, shows a bull flag forming on the 3-day chart.
A bull flag is a bullish chart pattern characterized by two rallies separated
by a short consolidation phase. It begins with a steep price surge, known as
the flagpole, as buyers overpower sellers. This is followed by a
pullback, creating a flag with parallel upper and lower
trendlines, indicating a potential continuation of the uptrend.
With this pattern in place, TOTAL2 is likely to rise much higher than $1.45
trillion. If that is the case, then many altcoin prices might surpass their
all-time highs. TOTAL2 3-Day Analysis. Source: TradingView
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However, if Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin dominance climbs back to 60%, altcoin season could step
back, and this forecast could be invalidated.
Meanwhile, Doctor Profit, a prominent crypto analyst, agrees that an altcoin
season is on the horizon. In a recent post on X, he predicted that the
remainder of this year and the first quarter of 20245 could bring higher
prices for altcoins.
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Beyond the technical outlook, the analyst pointed to strong institutional
inflows into Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum as a bullish signal. He also highlighted circulating
rumors suggesting that asset managers BlackRock and JP Morgan may be planning
an XRP ETF — a development that could further accelerate the altcoin season.
“Now, huge rumors are circulating that BlackRock and JPMorgan are planning to
launch an XRP ETF, and this is not just big, it’s very BIG. We’re at the
beginning of Altseason, and anyone who isn’t paying attention is going to get
left behind• Литература » Художественная литература » Поэзия » Стихотворные произведения » Песни » Песни Slipknot » Left Behind
• Музыка » Песни » Песни Slipknot » Left Behind,” Doctor Profit explained .
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