#AIStocksWhatNext $BTC
@bitcoin cedes prominence and altcoins activate a signal the market was waiting for.
The cryptocurrency market rally begins to spread beyond #Bitcoin❗ Unlike some previous moves, in which BTC captured much of the momentum, the current rise encompasses a larger number of assets. This increased participation has led Glassnode’s Altcoin Cycle Signal to levels associated with a favorable phase for altcoins.$XRP
👉Key points:
▫️Glassnode’s cycle signal has just shifted from bitcoin to altcoins, reflecting greater breadth in the market rally.
▫️August’s advance was mainly driven by BTC, while many altcoins showed relatively flat behavior.
▫️The new momentum features broader participation, a trait that differentiates the current move from what was seen earlier.$ETH
▫️The rally is no longer dependent solely on @Bitcoin .
Bitcoin has led much of the recent recovery, while numerous altcoins showed more moderate performance. This dynamic kept momentum concentrated mainly in the largest cryptocurrency by market cap.
Now, the situation is starting to change. The Glassnode indicator compares bitcoin’s performance with that of the top 250 altcoins by market cap, excluding stablecoins, to identify which market segment shows greater relative strength.
The signal recently reached a reading of 75—a level Glassnode associates with an altcoin season phase. This suggests that the current move has broader participation and that performance is no longer concentrated only in BTC.
@bitcoin cedes prominence and altcoins activate a signal the market was waiting for.
The cryptocurrency market rally begins to spread beyond #Bitcoin❗ Unlike some previous moves, in which BTC captured much of the momentum, the current rise encompasses a larger number of assets. This increased participation has led Glassnode’s Altcoin Cycle Signal to levels associated with a favorable phase for altcoins.$XRP
👉Key points:
▫️Glassnode’s cycle signal has just shifted from bitcoin to altcoins, reflecting greater breadth in the market rally.
▫️August’s advance was mainly driven by BTC, while many altcoins showed relatively flat behavior.
▫️The new momentum features broader participation, a trait that differentiates the current move from what was seen earlier.$ETH
▫️The rally is no longer dependent solely on @Bitcoin .
Bitcoin has led much of the recent recovery, while numerous altcoins showed more moderate performance. This dynamic kept momentum concentrated mainly in the largest cryptocurrency by market cap.
Now, the situation is starting to change. The Glassnode indicator compares bitcoin’s performance with that of the top 250 altcoins by market cap, excluding stablecoins, to identify which market segment shows greater relative strength.
The signal recently reached a reading of 75—a level Glassnode associates with an altcoin season phase. This suggests that the current move has broader participation and that performance is no longer concentrated only in BTC.
