#BTC
The fake total market capitalization has rebounded near a multi-year support level. This position has appeared twice in history, and afterward it has always followed the broader market trend.
In terms of data, Glassnode’s altcoin cycle signal surged to 81.25 on September 22 and has already entered the “altcoin season” range as defined by them.
On Binance, 87% of altcoins have broken above the 200-day moving average, whereas in August it was only around 20%.
Taken together, these two figures indicate that capital really is flowing toward altcoins.
However, a rebound doesn’t mean the uptrend has started.
Bitcoin’s market share is still around 58% and hasn’t broken below a key level.
The first step of capital rotation has appeared—the second step hasn’t arrived yet.
The fake total market capitalization has rebounded near a multi-year support level. This position has appeared twice in history, and afterward it has always followed the broader market trend.
In terms of data, Glassnode’s altcoin cycle signal surged to 81.25 on September 22 and has already entered the “altcoin season” range as defined by them.
On Binance, 87% of altcoins have broken above the 200-day moving average, whereas in August it was only around 20%.
Taken together, these two figures indicate that capital really is flowing toward altcoins.
However, a rebound doesn’t mean the uptrend has started.
Bitcoin’s market share is still around 58% and hasn’t broken below a key level.
The first step of capital rotation has appeared—the second step hasn’t arrived yet.
