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Cryptocurrency Rover provides two related charts showing periods of the altcoin season. The Altcoin Season Index measures the top 50 altcoins’ performance against Bitcoin over 90 days. Any score above 75 indicates a " altcoin season," while below 25 suggests a " Bitcoin season." Two recent examples: the index recently fell below 25, signaling a Bitcoin season, but the author cautions against falling victim to market manipulation.
The charts highlight Bitcoin’s sharp decline over two days, with a massive withdrawal of $3.5 billion worth of Bitcoin from Binance. This could counterbalance price sells, as BTC’s exchange liquidity diminishes, aiming to protect altcoins by driving them into the market. Bitcoin’s sell-off may appear to pump altcoins by accumulating buyers in cold storage.
During the last week, major altcoins like Ethereum have surged. ETH, for instance, reached a 40% daily price increase, alongside a 18% rise in trading volume. This boost suggests an optimistic environment for altcoins, but many enthusiasts warn of scams, particularly with whale traders exploiting cryptoạp opportunities through BitcoinMusic.
Altcoins remain weaker than Bitcoin, with a bearish perspective, but a stronger altcoin season could counteract this. Despite weaker rankings, most altcoins are performing well, with a concerning slice of market capitalization dominated by altcoins. Ongoingapple chains may offer"])coins benefits for those betting on the market.
In light of all these factors, crypto enthusiasts should remain cautious about scams and potential manipulation. Altcoins are not yet dominant, but their potential strength depends on broader market shifts and institutional sentiment. Read the full article for more insights.
Disclaimer: This article offers general information for education and reference purposes only. It does not constitute financial advice or recommendations. The article is not a substitute for professional financial advice or investment guidance. Users are encouraged to consult their broker or financial advisor before making any trading decisions.
