Is This the Most Boring, Yet the Most Important Time to Buy Altcoins?
Main Idea
The altcoin market is currently in an accumulation phase with low dominance, similar to historical patterns in 2019, suggesting a potential future uptrend.
Key Points
1. Altcoin dominance is near cycle lows, mirroring the accumulation phase seen in the summer of 2019.
2. The Others.D chart shows a steady downtrend since late 2021, with current readings near 7.26%, close to historical support levels.
3. The CoinMarketCap Altcoin Season Index reads 35 out of 100, indicating it is still 'Bitcoin Season' with Bitcoin outperforming most altcoins.
4. The Relative Strength Index (RSI) on the Others.D chart signals a lack of momentum, with no confirmation of a trend shift yet.
Description
Altcoin dominance hovers near cycle lows, mirroring 2019 accumulation patterns. RSI remains neutral with no clear momentum shift, confirming ongoing consolidation. Altcoin Season Index at 35 signals continued Bitcoin dominance in current market cycle. Crypto analyst Michaël van de Poppe has noted that the altcoin market remains in its accumulation phase, with no indication yet of a trend reversal. In a recent post, van de Poppe pointed to the Others.D chart, which tracks the market cap of all cr...
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