Cryptocurrency firm Alphractal, led by CEO Joao Wedson, provides new data on market conditions, emphasizing Bitcoin's dominance and potential for altcoins.
Current Market Indicators
A recent analysis by Alphractal noted that the Altcoin Season Index is signaling opportunities, however, data indicates that Bitcoin remains dominant. Wedson pointed out that over the past 60 days, Bitcoin has outperformed altcoins.
Signals for Altcoins
Wedson expressed that the current state of altcoins should not be viewed as a negative development, stating that 'this period, when altcoins are still lagging, may be a window to make savings.' Additionally, he highlighted that altcoins have remained weak against Bitcoin over the past 48 hours.
Investor Sentiment Indicators
The analysis conducted by Alphractal also indicated that the Fear and Greed Index stands at 65, suggesting neutral or slightly optimistic investor sentiment. Furthermore, it was reported that Bitcoin's Sharpe Ratio has begun to rise again alongside its price, indicating an improvement in risk-adjusted return.
The analysis of the current cryptocurrency market state indicates continuing Bitcoin dominance, while potential opportunities for altcoins may arise in the future. Investors remain watchful, based on positive signals from market indicators.
