Altcoin market momentum recovers to ‘neutral’ – Is an altseason next?
Altcoin market momentum has recovered to a "neutral" level, according to Swissblock's Alts Impulse signal, raising the possibility of a short-term altcoin season. This shift follows Bitcoin's defense of the $65k support level. Key indicators suggest potential for an altcoin surge: Stablecoin inflows, which represent buying power, have been rising since January, and the ETH/BTC ratio has increased by 3.5%, indicating Ethereum is outperforming Bitcoin—a typical pattern in altcoin recoveries. However, risks remain. A price reversal in Bitcoin, for which there is increased bearish hedging, could negatively impact altcoins. Additionally, a sustained drop in capital inflows would keep the market fragile. Recent performances show Zcash leading the top 20 assets with a 24% gain, followed by Hedera, Bitcoin Cash, and Solana. The overall altcoin recovery is contingent on Bitcoin's stability and continued capital entering the market.
ambcrypto02/14 16:02