In a twist as unexpected as a devil’s advocate in a convent, Ki Young Ju, the grand prognosticator of CryptoQuant, has decreed that the fabled “alt season” is upon us. In a missive to the faithful on platform X, Young Ju revealed his soothsaying. “The alt season has begun,” he declared, echoing the musings of Changpeng Zhao, another sage of the cryptic realm.
Altcoins March Forward as Bitcoin Stumbles
Behold, the “alt season” is a curious phenomenon when the likes of Ethereum (ETH) and Solana (SOL) cast a shadow over Bitcoin (BTC), leading to a dramatic reshuffling of the digital coin hierarchy.
Young Ju, with a twinkle in his eye, mentioned that this alt season is a horse of a different color from its predecessors. There is no grand exodus from BTC to the altcoin shores. Instead, traders, like cunning foxes, have swapped their BTC for stablecoins like USDT and USDC, bypassing Bitcoin altogether. It seems the mighty BTC no longer instills fear in the hearts of the dollar defenders. Aha, what a topsy-turvy world we live in!
“Alt volume is 2.7x BTC,” Young Ju quipped, implying that altcoins are now the belle of the ball. The demand for these digital curiosities is through the roof, or rather, through the blockchain.
Alt season has begun. 🎉
No direct BTC-to-alt rotation, but stablecoin holders are favoring alts. Alt volume is 2.7x BTC. BTC Dominance no longer defines alt season—trading volume does.
It’s a very selective alt season tho. DYOR. 😏
— Ki Young Ju (@ki_young_ju) February 21, 2025
In a break from tradition, where a waning Bitcoin dominance was the harbinger of the alt season, now it is the trading volume that holds the scepter of power.
Is This the Dawning of a True Alt Season?
But wait, dear investors, Young Ju throws a bucket of cold water on the festivities. Not all altcoins are created equal, and some may yet languish in obscurity while others soar.
Therefore, those who dare to invest in altcoins must embark on a quest of personal discovery, sifting through the digital sands to find the coins that glitter.
However, a skeptic named RobW has dared to question Young Ju’s revelation, arguing that a few tokens bubbling up does not a season make. RobW suggests that the true alt season may still be a twinkle in the market’s eye.
Others, while acknowledging the stirrings of certain altcoins, note that they have yet to reclaim their former glory. Ah, such is the fickle nature of the crypto market!
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2025-02-21 13:19