tl;dr
The creators of the crypto analytics firm Glassnode warn that altcoins could lose bullish momentum after last week's market correction. They state that "altcoin season" may end unless Bitcoin stabilizes above a key price point. The Bitcoin Dominance (BTC.D) chart indicates that altcoins are losing v...
According to the creators of the crypto analytics firm Glassnode, altcoins could lose bullish momentum following last week's market correction. The co-founders, Jan Happel and Yann Allemann, warn that "altcoin season" may come to an end unless Bitcoin stabilizes above a key price point.
The Bitcoin Dominance (BTC.D) chart indicates that altcoins are losing value faster than Bitcoin, with BTC.D currently at 59%. Glassnode executives also note a shift in Bitcoin holders, with long-term holders selling while new investors accumulate. At the time of writing, Bitcoin is worth $97,246.
Jan Happel and Yann Allemann, co-founders of Glassnode, warn that "altcoin season" could end after last week's market correction unless Bitcoin stabilizes.
Bitcoin dominance has surged, with BTC.D currently at 59%, signaling a potential shift away from altcoins. Additionally, long-term Bitcoin holders are selling their holdings while new investors accumulate.
At the time of writing, Bitcoin is worth $97,246.