The index of #altseason is collapsing!
Help!! Save meeeee!!
What terrrrrrror!
Did you miss out on profits by still waiting for more??
Did greed take over your mind and control everything?
Or did you simply not have an exit strategy?
If you are answering yes to most of these questions, then you need to review the 21 laws or strategies that I have posted in the last few days.
Let's review this data to understand what is happening in the crypto universe.
Yesterday, Wednesday, the market showed a cooling in the momentum of cryptocurrencies. Only 41% of the top 50 #criptomonedas (that is, digital assets excluding bitcoin) outperformed bitcoin (BTC) in the last 90 days, a significant drop from the 59% recorded until July 21.
For it to be considered an altseason, at least 75% of these cryptocurrencies must outperform BTC in that period, a threshold from which the market is still far.
The correction in the #altcoins remains organic and healthy, reflecting a natural market rebalancing after a period of speculative enthusiasm, allowing for price consolidation without signs of panic or massive selling, thus strengthening the foundations for sustainable growth.
With the growing prominence of ETH, it is evident that in its spot trading volume, it reached $25.7 billion last week, surpassing $24.4 billion of BTC, something not seen since June 2024.
Additionally, the price of ETH has risen 72% against BTC since April, when it was undervalued. The ETH/BTC ratio climbed from 0.018 to 0.031, the highest level since January 24, driven by increased demand for ETH and lower selling pressure, as less ether is sent to exchanges compared to bitcoin.
The altseason has not yet arrived, clear signals, bullish expectations, especially for Ethereum, XRP, and other cryptocurrencies, growing optimism could reactivate the momentum at any moment.
