🔑 A key indicator showing the strength and volume of altcoins has fallen to negative $36 billion.
📉 Before going negative, the difference in bid and ask volumes crossed the barrier to the positive side, signaling the start of the alt season.
📊 If this indicator does not start to grow again, then expectations of a full-scale alt season or altcoin FOMO may be wishful thinking, says CryptoQuant analyst Burak Kesmeci.
👥 As investors abandon altcoins, even Ethereum and Doge, Bitcoin appears to be gaining ground.
📉 While the leading altcoin has fallen almost 48% from its all-time high of $4,891 on November 16, 2021, Bitcoin is consolidating near its all-time high. Bitcoin is just 6.5% off its peak and is trading near $105,000 with a market cap of over $2 trillion.
