Bitcoin is doing okay, Ethereum is not, and neither are many of the market's altcoins. Now, what does this mean for the altcoin season?
According to Glassnode’s founders, Jan Happel and Yann Allemann, the market could soon see a strong altcoin season. The execs believe that the last two“Is Altcoin Season just days away? Given an Altcoin Season, the next $BTC run-up will likely break March’s all-time high, carried by a strong #Altcoin undercurrent”Here, it’s worth pointing out that the metric gauges BTC vs. Altcoin seasons, and March was the last time a strong alt season was flashed.
However, so far, the numerous altcoin season calls made in the past have been invalidated. For those using the ETH/BTC ratio to gauge the sector, the approval of Spot ETH ETFs was viewed as a potential trigger.in July based on the same. However, since the projection, the ETH/BTC ratio, which tracks ETH’s relative value to BTC, has dropped to new yearly lows. Over the same period, no alt season has happened.could further stifle the overall outlook for the altcoin season.
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