"Bitcoin (BTC) remains strong despite sharp drop, Altcoins show resilience... Expect high volatility this weekend"
JH Kim
Summary
- Despite the sharp drop in Bitcoin (BTC), Altcoins are reported to be relatively maintaining their strength.
- According to Swissblock's indicator, the Bitcoin-Altcoin cycle has reached 100, indicating the start of the Altcoin season.
- It is analyzed that Altcoin volatility is expected to increase this weekend.
On-chain analysis firm Glassnode co-founders Jan Happel and Yann Allemann stated on the 6th (local time) via their X (formerly Twitter) account Negentropic that "Despite the sharp drop in Bitcoin (BTC), Altcoins are relatively maintaining their strength well," and added, "In particular, Swissblock's Bitcoin-Altcoin cycle indicator has reached 100."
They continued, "This shows that the Altcoin season has officially begun," and analyzed that "Altcoin volatility is expected to increase this weekend."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.