The crypto market is witnessing increasing volatility, and as October draws to a close, where is the altcoin season that everyone is waiting for?
From the current market perspective, the crypto market in 2024 no longer seems to have the same momentum as it did in 2021, as no prominent alt zone has emerged and only some fleeting highs have appeared. The market’s attractions are somewhat scattered, as BTC’s violent momentum yesterday was very close to the previous high. As for the crypto market movement yesterday, many people consider it a bull market, but in fact, BTC’s rise yesterday cannot be considered a bull market, as it is due to the reduction of BTC supply at the beginning of the year and the passage of BTC futures balances, exceeding the all-time high for 2021, and then achieving a new all-time high of $73,787.1, and it is also considered a unique offer for BTC. In other words, if there are no notable altcoin spikes in the market, it cannot be considered a bull market.
