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Analyst Gave Good News for Altcoins: "The Data That Previously Caused a Rise in Altcoins Has Fired Up Again!"
Bitcoin (BTC) has surpassed its previous bull ATH and has broken records one after another. At this point, the last ATH of BTC is at the level of 111,900 dollars, while new ATHs are also expected.
While Bitcoin set many new records in the past months, the largest altcoin Ethereum (ETH) and many other altcoins are still trading below their previous ATHs.
As investors eagerly await the start of the delayed altcoin season, analyst Axel Adler shared the bullish signal he sees for altcoins.
According to this, the analyst examining the average monthly change flow data of altcoins argued that this data has led to sharp increases in altcoin prices.
At this point, Axel Adler stated that the average monthly trading volume of altcoins is currently at the level of 1.6 billion dollars, which is lower than the annual average of 2.5 billion dollars.
The analyst indicated that the average flow at these levels points to consolidation and an increasing accumulation potential for altcoins ahead of the next altcoin season.
In his analysis, the analyst who referred to previous data stated that the average monthly trading volume of altcoins had previously fallen below the $1.6 billion monthly baseline, after which significant rises occurred.
According to the shared graph, the average monthly trading volume of altcoins fell below the $1.6 billion monthly baseline in early 2023, in the second half of 2023, and in August-September 2024.
The analyst stated on this matter, “Historically, low trading volumes in every case have usually preceded significant price increases in altcoins.”
*This is not investment advice.
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