Altcoin season indicator: Do the signs point to an altcoin wave?

  • 📰 CryptoAmb
  • ⏱ Reading Time:
  • 57 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 68%

Coin Coin Headlines News

Coin Coin Latest News,Coin Coin Headlines

The altcoin season indicator showed a reading of 31 at press time, signaling Bitcoin season is closer at hand than an alt season.

could break free of its torpor soon. At the beginning of this week, the price was at $67.7k, and the lack of trading volume and speculative interest suggested that BTC was not ready for a strong uptrend.This has begun to shift over the past 24 hours. Data from Farside Investors showed that the Bitcoin exchange-traded funds saw a $886 million inflow on Tuesday, the 4th of June.

At press time, even though alts might perform well due to the Bitcoin bullish fervor, only a few select alts might outperform Bitcoin. If the altcoin season indicator can climb above 75, it’d be a sign of wild bullishness across the altcoin ecosystem. Given that there are far more alts right now compared the previous cycles, the gains during an altseason might still be concentrated within a chunk of the alts rather than market-wide rallies.The Bitcoin Dominance chart represents the market capitalization of BTC as a percentage of the total crypto market cap. The metric formed a range between 53.9% and 56.3% since April.

At press time, it was rebounding from the range lows. An increase in the BTC.D means BTC is growing faster than the rest of the market,In 2021, from January to June, the BTC dominance fell from 72% to 40.4%. In this window, the altcoin market capitalization expanded from $122 billion to $934 billion.Akashnath Sumukar works as a Senior Journalist at AMBCrypto. Based in Chennai, India, he has been an avid follower of the cryptocurrency market since Bitcoin’s boom and bust cycle of 2017.


Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 22. in COİN

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin outflows, altcoin inflows: Is a crypto market shift underway?The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

XRP, RNDR, OP, and BLP Expected to Lead Altcoin Gains if Bitcoin Reaches $70KThe crypto market is experiencing a surge, hinting at a bullish trend that could see Bitcoin hit a new high of $70,000. As investors...
Source: CryptoAmb - 🏆 22. / 68 Read more »

Signs of an altcoin season – Why we aren’t in one yet?The altcoin season was not yet on us even though their market capitalization expanded dramatically- here are some signs of an altcoin season.
Source: CryptoAmb - 🏆 22. / 68 Read more »

BNB investors remain cautious – $618 or $550, where will the altcoin go?Binance Coin [BNB] has traded near its 20-day Exponential Moving Average (EMA) and 50-day Simple Moving Average (SMA) in the past few days...
Source: CryptoAmb - 🏆 22. / 68 Read more »

XRP price’s potential 650x surge – Examining if $20 is altcoin’s next targetXRP continues to face significant challenges due to a prolonged lawsuit by the U.S. SEC. Amidst this a $20 price prediction emerges.
Source: CryptoAmb - 🏆 22. / 68 Read more »

XRP’s rally hits major roadblock: What will the altcoin do now?XRP has failed to sustain its rally from yesterday as it falls back into red yet again. Will the altcoin's fortunes never improve?
Source: CryptoAmb - 🏆 22. / 68 Read more »