Are fakecoin seasons loading?
Last week, the total market cap of altcoins surged 23%, recording the strongest weekly gain in months.
It rebounded from the 1,000-day support level and broke above the downward trend line.
However, altcoins are still tightly correlated with Bitcoin.
BTC.D remains above 60%, which favors Bitcoin and large-cap coins. Real altcoin season may require BTC.D to drop below 58%.
The structure is improving, but rotation has not been confirmed yet.
Last week, the total market cap of altcoins surged 23%, recording the strongest weekly gain in months.
It rebounded from the 1,000-day support level and broke above the downward trend line.
However, altcoins are still tightly correlated with Bitcoin.
BTC.D remains above 60%, which favors Bitcoin and large-cap coins. Real altcoin season may require BTC.D to drop below 58%.
The structure is improving, but rotation has not been confirmed yet.
