Bitcoin ($BTC ) has surpassed its all-time high ($ATH ) upward, breaking consecutive records. At this stage, its last all-time level was $111,900, and new record levels are expected to follow.
While Bitcoin has shattered numerous new records in recent months, many alternative currencies, including the largest altcoin, Ethereum ($ETH
), trading below their previous record levels.
With investors anticipating the start of the late altcoin season, analyst Axel Adler shared the bullish signal he sees for altcoins.
Consequently, the analyst argued, who studied the data on the average monthly change of altcoins, that this data led to sharp increases in their prices.
At this stage, Axel Adler stated that the average monthly trading volume of altcoins currently stands at $1.6 billion, which is below the annual average of $2.5 billion.
The analyst pointed out that the average flow at these levels indicates consolidation and an increased potential for accumulating alternative currencies before the upcoming altcoin season.
Referring to previous data in his analysis, the analyst stated that the average monthly trading volume of altcoins had previously fallen below the monthly baseline of $1.6 billion and then saw significant increases.
According to the joint chart, the average monthly trading volume of altcoins fell below the monthly baseline of $1.6 billion in early 2023, the second half of 2023, and August-September 2024.
The analyst said: "Historically, in any case, low trading volumes usually precede significant increases in altcoin prices."
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