Glassnode Says Market Signals Are Shifting From Bitcoin to Altcoin Season
Summary
- Glassnode said capital flows in the cryptocurrency market are spreading from Bitcoin to the broader altcoin market.
- Glassnode said altcoin cycle signals have shifted from Bitcoin season to altcoin season.
- Glassnode said the latest rebound is fueling gains across the broader altcoin market.
Forecast Trend Report by Period
Capital flows in the cryptocurrency market are broadening from Bitcoin to the wider altcoin market, according to on-chain analytics firm Glassnode.
On September 22, Glassnode wrote on X, formerly Twitter, that "altcoin cycle signals have shifted from Bitcoin season to altcoin season."
Glassnode said that during the initial rebound in August, altcoin prices were relatively flat even as Bitcoin rose. In the latest rebound, however, gains are spreading across the broader altcoin market.
It added that the recent upswing is driving a wider rally across altcoins.
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