Altcoin Season Incoming?
The crypto market is showing signs of a significant shift, with attention moving from Bitcoin to altcoins. CryptoQuant CEO Ki Young Ju highlights growing investor interest in stablecoins as a precursor to an altcoin season.
Is Altcoin Season Imminent?
Following a recent market downturn, altcoins are experiencing a resurgence. While Bitcoin maintains dominance at 60.59% (up 0.43%), altcoins are rallying. Ki Young Ju stated on X ("link") that "BTC Dominance no longer defines alt season." He emphasizes trading volume as a more accurate metric.
Altcoin Trading Volume Surges
Young Ju attributes the altcoin rally to increased stablecoin demand. Altcoin trading volume is 2.7 times greater than Bitcoin's, suggesting a potential altcoin season driven by unique market dynamics. While optimistic, he advises thorough research before investing in altcoins due to potential selectivity within the altcoin market.
ETH Outpaces BTC
Ethereum (ETH), the leading altcoin, is currently outperforming Bitcoin (BTC). At $2,756 (a weekly increase of 2.05%), ETH contrasts with Bitcoin's $98,2025 (a weekly increase of 1.2%) (source). Analyst Crypto Rover identifies this as Phase 2 of an altcoin season, supported by CryptoGoos’ analysis referencing historical BTC dominance dips preceding altseasons.
February: A Historically Strong Month for Altcoins
February has historically been a strong month for altcoins. Experts like Merlijn The Trader predict a "super cycle" beginning in February, suggesting a parabolic rise. Shib Spain and Max Brown also anticipate a February breakout for altcoins, with Max Brown stating on X: "Altseason starts in February."
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Disclaimer: This information is for educational purposes only and does not constitute financial advice. Conduct your own thorough research before making any investment decisions. Codeum and the author are not responsible for any financial losses.