Meme coins are pumping.
Bitcoin (BTC), the largest and oldest cryptocurrency, has been leading the digital asset rally of late, but there are early signs of a so-called "altcoin season" impending, when smaller tokens are outperforming, analysts said.
BTC is already near its all-time high set in 2021, hitting $64,000 this week alongside strong inflows into spot bitcoin ETFs. It's gained 48% since the start of the year, while the broad-market CoinDesk 20 Index (CD20) was up 33% during the same period, highlighting the underperforming altcoin sector.
The key signal to look for to confirm the start of a period of altcoin outperformance is ETH's clearing the $3,500 price threshold….
We are getting very close …
Source: https://www.coindesk.com/markets/2024/03/01/meme-coin-rally-may-signal-impending-altcoin-season-this-is-the-sign-to-watch/?_gl=13nt9ss_upMQ.._gaMTQ3NDY2OTU2My4xNzA5MzgyMzE1_ga_VM3STRYVN8*MTcwOTM4MjMxMy4xLjAuMTcwOTM4MjMxMy4wLjAuMA..
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Now that 'investors' have realized their profits from Bitcoin, they return to their favorite cryptos
Yes. And Especially Blurt.