This morning, the cryptocurrency market recorded Bitcoin's sideway status with a stable price around 96,768 USD, while major altcoins are trending slightly down. This raises questions for many investors: Is the altcoin season approaching?
Market overview
• Bitcoin (BTC):
Although Bitcoin has not seen much significant volatility, the market shows signs of stagnation as the price remains around 96,768 USD, only down 0.5% in the past 24 hours. This is often a signal that cash flow may begin to shift toward altcoins.
• Altcoin:
Major altcoins are recording slight declines:
• Ethereum (ETH): down 3.34%, to a price of 3,343 USD.
• Solana (SOL): down sharply 7.03%, currently trading at 181.13 USD.
• XLM and DOGE: both down about 2-6%, with prices at 0.35047 USD and 0.31634 USD respectively.
The slight decline of altcoins while Bitcoin remains sideway is a familiar signal before the market enters the altseason phase, when money flows from BTC to smaller market cap coins.
Will the Altcoin season come?
The altcoin season, or altseason, often occurs when:
1. Bitcoin stalls (sideway): The stable BTC price is prompting investors to seek greater profit opportunities in altcoins.
2. Positive market sentiment: Major altcoins like Ethereum and Solana often lead trends, creating a ripple effect to other altcoins.
Currently, although altcoins are slightly declining, this could be a necessary adjustment before the cash flow truly pours in. If BTC continues to be sideway, it is highly likely that the altseason will appear in the coming weeks.
Things investors need to note
• Trading strategy:
For Bitcoin, this might be a good time to wait for a breakout opportunity if the price breaks through the sideway area. For altcoins, consider selecting coins with potential to lead the trend like ETH, SOL, or platform tokens.
• Risk management:
The altcoin market often experiences larger fluctuations than Bitcoin, so placing stop-loss orders is necessary to avoid unnecessary losses.
• Monitor cash flow:
Observe whether the trading volume of altcoins increases. This will help identify whether the cash flow has genuinely shifted from BTC to altcoins.
Conclusion
Although Bitcoin is still sideway and altcoins are slightly declining, the market is showing signals that the altcoin season may be approaching. However, investors need to closely monitor market developments and prepare appropriate strategies.
Always trade carefully and wish everyone success in their upcoming investment journey!
