Recently, with Bitcoin (BTC) rapidly rising to the $94-96 thousand range, investor interest began to shift towards the altcoin market.
According to a new report published by the crypto analysis platform Santiment, Bitcoin's surprise rise to the $94-96 thousand range has led investors to shift their profits to altcoin projects. While the cryptocurrency market rose by 10.2% last week, Bitcoin's increase remained at only 7.6%. This indicates that significant investments have been made in low market cap altcoins and that investors want to capitalize on potential rises in this area.
Santiment also notes a significant increase in shares related to meme coin projects on social media platforms. The report interprets this situation as follows:
"When prices start to rise, investors' interest typically shifts toward speculative assets that promise higher risk and return. After the losses experienced during the bear market from mid-January to early April, investors usually set altcoins aside and turn to Bitcoin or stablecoins. However, with the market's recovery in the second half of April, investors were expected to shift towards riskier assets, and that indeed happened."
Has Altcoin Season Really Started?
According to the Santiment report, expressions like "altcoin season" (altseason) and "altcoins" have rapidly gained popularity on social media. The report emphasizes that investors' enthusiastic approaches to such terms are often a signal to be cautious.
"Historically, it has been observed that the most opportune time to enter altcoin season is during periods when investors show no interest in altcoins. Because the market generally moves contrary to retail investors' expectations. As belief among investors that 'altseason' has begun increases, this could actually be a red flag."
The report also mentions that former US President Donald Trump's TRUMP coin move has influenced investors' shift towards altcoins. Following the special invitation announcement for Trump's campaign, the TRUMP coin price increased by 54% in just one hour, playing a significant role in the resurgence of meme coin culture.
Santiment warns that as we enter May, investors need to carefully monitor the rapid changes in market sentiment.
"The transition from rational investments to speculative frenzy can be swift and punishing. Opportunities may be attractive for early movers, but investors need to be cautious not to get swept up in the crowd's excitement."
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