When will Altcoin Season Arrive?
BTC hit new highs today, but most other tokens aren't even close.
Another breakout tease. Bitcoin yet again battered itself against all-time highs, ticking $70k, then bleeding out to a low of $66k before eventually rebounding.
While fresh all-time highs remain out of reach for the majority of alts that existed during the peak of last cycle’s bull market, many tokens, including ETH and SOL, achieved new cycle highs today! How has Bitcoin’s rally to new highs and subsequent retreat impacted the broader market?
As has been par for the course, this morning’s sharp rally in Bitcoin was parasitic for alts, with the total crypto market cap drawing down by half a percent against BTC at its local top.
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Jack Inabinet
Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.
