The founders of Glassnode, an analytics firm, believe an altcoin rally could soon begin.
Jan Happel and Yann Allemann, known as Negentropic on X, indicated that this altseason may unfold after Bitcoin surpasses its all-time high of around $74,000.
They noted that altcoins have been following Bitcoin’s bullish trend and suggested that a simultaneous surge in various cryptocurrencies could occur once Bitcoin breaks its ATH.
Historically, the cycle begins with Bitcoin rising, followed by Ethereum, large-cap altcoins, and then smaller ones. Since May, Bitcoin has seen three upward moves without triggering an altcoin season.
However, the altcoin cycle indicator recently approached 50, hinting at a potential shift in favor of altcoins.
This indicator reflects traders’ preferences; values above 50 indicate that altcoins are outperforming Bitcoin, suggesting an impending altcoin season.
Bitcoin’s available supply is drying up fast, setting the stage for potential market turbulence, according to Sygnum Bank’s latest outlook.
XRP (XRP) has dropped by 2.4% in the past 24 hours as a much-needed pullback continues to unfold The token currently sits at $2.20 but trading volumes have dropped by 19% in the past 24 hours, meaning that the selling pressure has eased. Crypto liquidations have surged to $230 million in the past 24 hours […]
While Bitcoin has already set fresh all-time highs, Ethereum continues to lag behind its peak, leaving many investors wondering when the top altcoin will catch up.
Rumors are heating up around Solana-based memecoin platform Pump.fun, which is said to be prepping a $1 billion token sale at a $4 billion valuation—though the team has yet to confirm any details publicly.