The Weakest Altcoin Rally in Years: But That Could Change Fast
Main Idea
The article discusses the performance of Bitcoin compared to altcoins, noting Bitcoin's dominance and the potential for an altcoin season triggered by Ethereum's breakout.
Key Points
1. CryptoQuant's analysis highlights Bitcoin's dominance, with mid- and small-cap altcoins briefly outperforming Bitcoin in early 2024.
2. Swissblock's Altcoin Vector indicates a renewed trend where altcoins often move in tandem with the ETH/BTC pair, which has rallied about 75%.
3. A key resistance level of 0.035 for ETH/BTC could trigger a 'Positive Impulse' across the altcoin market.
4. The article mentions that an altseason is crucial for capturing the market's full attention but is not yet complete.
Description
Market data indicates that the much-anticipated altseason has yet to begin truly. A comparison of Bitcoin, large-cap (top 20) altcoins, and mid-to-small-cap tokens shows the weakest altcoin performance of the current cycle. Altcoins Struggle to Match Bitcoin’s Dominance In its latest analysis, CryptoQuant said that the most significant surge resembling a “true” altseason occurred in early 2024, when mid- and small-cap assets briefly outperformed Bitcoin. A second phase emerged in late 2024 and e...
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