Last week saw crypto markets in a consistent upward momentum, propelled by increased buyer activity. The rally is predominantly spearheaded by Bitcoin, which successfully breached the crucial resistance level at $36,000.
Crypto investors are keeping a close eye on the emergence of the altcoin season, where the returns from low-cap coins often outweigh the higher risks, especially when diversifying an investment portfolio. One telltale sign of this transitional phase is the surge in trading volume among altcoins, now constituting over 50% of the total turnover.
The overall capitalization of the altcoin market has surged by over 30% over two weeks, reaching $650 billion in November. This shift underscores traders’ escalating interest toward altcoins, boosting their prices.
If the altcoin capitalization continues to move towards $700 billion, the market can enter the altcoin season phase — a scenario supported by many analysts.
Crypto Analyst Stockmoney Lizards predicts an approaching altcoin season based on past observations where the altcoin market cap surged following Bitcoin’s halving event. These analyses indicate that historically, the altcoin market capitalization…