Pay attention to market data, the share of altcoins has significantly increased!
With the end of this Double Holiday period, funds are starting to gradually return to the market. As trading becomes more active after the holiday, the market capitalization has increased significantly!
From the perspective of market share: the share of altcoins has significantly increased, BTC's share has weakened, and ETH's share has also slightly weakened, indicating a short-term surge in market risk appetite.
In terms of trading volume: overall trading volume has increased, BTC trading volume is flat compared to Monday, maintaining a shrinking upward trend, with short-term selling pressure easing. ETH trading volume has slightly increased, and compared to BTC, the turnover rate has improved, with a 33% increase in altcoin trading volume. As the overall market rises, the sentiment for altcoins is temporarily not stable; the increase has led to a rise in turnover rate. If it continues to rise with decreasing volume, it will be a great opportunity for altcoins.
Although the overall market seems optimistic, it still belongs to an incremental increase. Attention is still needed on subsequent trading conditions and weekend performance to distinguish whether BTC has driven the overall market rebound or if it is an opportunity for altcoins to explode.
If altcoins continue to rebound this weekend, the opportunity for altcoins during the Lunar New Year will certainly exist.
