Glassnode Says Market Signal Is Shifting From Bitcoin to Altcoin Season
Minseung Kang
Summary
- On-chain analytics firm Glassnode said capital flows in the cryptocurrency market are spreading from Bitcoin to the broader altcoin market.
- Glassnode said the altcoin cycle signal has shifted from Bitcoin season to altcoin season.
- Glassnode added that the recent rebound is triggering a broader rise across the altcoin market.
Forecast Trend Report by Period
Capital flows in the cryptocurrency market are broadening from Bitcoin into the wider altcoin market, according to Glassnode.
On Sept. 22, the on-chain analytics firm wrote on X, formerly Twitter, that "the altcoin cycle signal has shifted from Bitcoin season to altcoin season."
Glassnode said that during the initial rebound in August, Bitcoin advanced while altcoin prices remained relatively flat. In the latest rebound, however, gains are spreading across the broader altcoin market.
The firm added that the recent upswing is fueling a wider rally across the altcoin market.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.