🔍 Bitcoin Decouples — Altcoin Correlation Hits New Lows
Bitcoin's domination of the crypto market raised concerns of an Altseason during the bull cycle. However, recent events suggest an altseason, which crypto experts say might be alts' largest period yet.
As market dynamics change, major signs suggest that Altcoin Season may replace Bitcoin Season. João Wedson, creator of Alphractal and on-chain specialist, predicts an altseason this cycle.
The on-chain specialist stated that the cryptocurrency industry may be changing after comparing Altcoin Season Index to Bitcoin. It seems that many cryptocurrencies will no longer follow Bitcoin's path as in previous cycles.
Wedson says these digital assets are recalcitrant and following their own way, signaling a distinct alt season. This growing divergence from Bitcoin's price trend has generated speculation that an altseason, typified by non-BTC asset increases, may be coming.
The analyst said that although BTC is at record highs, most altcoins, save for a few top-market-cap currencies, have little space to fall. This generally signals the start of capital movement into non-BTC assets.
Considering the tendency, the analyst believes an altseason is imminent. The season should run swiftly, and the rotation will continue regardless of BTC's price.
As investors stick onto Bitcoin and stablecoins in the present market, Wedson has warned them of future instability. From a major trader or fund manager's standpoint, keeping BTC or stablecoins solely right now is pointless, the expert said.
In 2021, an RSI + MACD conjunction caused BTC's market dominance to plummet, paving the stage for an altseason. As the setting returns, the analyst expects a similar outcome. Mags said this time, the development might lead to the largest altseason of the cycle.
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