The economic indicators of altcoins show changes in their relationship with Bitcoin, signaling a potential new phase in the cryptocurrency market.
Changes in Altcoin Correlation with Bitcoin
According to analyst Wedson, several altcoins are once again moving in sync with Bitcoin. For example, XRP’s correlation to BTC has slipped slightly from 0.79 to 0.70, while Solana (SOL) has seen a notable increase from 0.53 to 0.75. Ethereum (ETH) and THETA remain the most closely aligned with Bitcoin’s price action.
Presence of Weak Altcoins
The analyst also addressed the fading presence of over 1,400 altcoins, describing their disappearance as a healthy market development. "It’s a sign of maturation. Weak, speculative projects are fading out, leaving space for real, problem-solving crypto assets to shine," she stated.
New Signals in Bitcoin Market
Alphractal added that Bitcoin is currently undergoing a rare on-chain event. The SOPR Trend Signal—used to measure when holders are selling at a profit—is now rising for the third time in this bull market. The company described the pattern as unprecedented, stating, "This kind of triple-rise in the SOPR signal hasn’t been observed before. As long as the blue line stays above the orange, market conditions remain stable."
The current situation highlights the volatility of altcoin and Bitcoin correlations, as well as the healing process of the crypto market with the disappearance of weak projects.
