Is Altseason Going Strong? CryptoQuant Data Suggests Affirmative

CryptoQuant indicates that the anticipated altcoin season is in full swing, with Ethereum leading the charge. Charts tracking trends for Ethereum, Bitcoin, and other metrics, show increased investor participation, suggesting a market shift. Ethereum has surged 170% from its recent lows and sits 23% short of its all-time high, largely due to a substantial investment by online games developer, SharpLink.

Bitcoin dominance is declining as altcoins shine, with altcoin futures trading volume hitting a five-month high of $223.6 billion. Retail demand is back, with Bitcoin transactions under $10,000 rising 9.7% in a month. However, increased retail participation often signals the end of bull cycles, suggesting that the current bull market may soon conclude.