The cryptocurrency market experiences a dynamic change after abandoning the period known as “Bitcoin Season.”
One of the key indicators to identify an Altseason, defined as the time when At least 75% of the 50 main altcoins exceed Bitcoin’s performance In a period of 90 days, it is not yet reached.
Currently, the 35% of these altcoinsexcluding stablcoins (and tokenized versions of Bitcoin), have surpassed Bitcoin in the last three months. This percentage marks a significant improvement from the minimum of 11% registered in Juneevidencing a growing demand for alternative cryptocurrencies that is capturing the attention of investors.
As Cryptonotics reported, there is a massive and simultaneous criptomoned exit from Binance, the world’s largest cryptocurrency exchange.
This behavior is a classic accumulation indicator: by withdrawing their assets from trade platforms, whales point out their intention to keep them in the long term, anticipating an increase in their value. The lower supply of Altcoins in the exchanges, combined with a demand that is maintained or grows, reduces the sales pressure and can trigger a price rebound, a scenario that traders value for the profit opportunities it offers.
Likewise, the Ethereum network records a remarkable increase in its activity, with more than 16 transactions per second (TPS) processed, including operations in its second layers (L2). This level of activity, the highest since April 2021, reflects a renewed interest of both institutional and retail investorsdriven by the rise in the price of ETH.
This dynamism in Ethereum, one of the main platforms for Altcoins, reinforces the bullish signals in the market.
For its part, the recent historical maximum of Bitcoin, which reached $ 123,000, has fueled the appetite for the risk among investors, creating a favorable environment for the Altcoins.
Although the market is still far from complying with the criteria of blockchain center for an Altseason, the combination of greater demand, accumulation by whales and the increase in the activity of Ethereum suggests that the sector could be preparing for a more pronounced bull movement in the short term.
