Altseason is near, but is the crypto market ready for another 2021-like surge?
As the crypto market shows visible signs of recovery from its bearish slump, CryptoQuants on-chain and technical analyst, Darkfost, has shed light on the altcoin market. The analyst highlighted how the altcoin market has suddenly shown several signs of shifts from a prolonged bearish phase into an early bullish phase. Could mid and small-cap altcoins could drive the altseason? According to the analyst, between 19th and 22nd August, the total market cap of altcoins excluding Bitcoin [BTC] and Ethereum, aka Total2, increased by about $215 billion. This marked a 24% hike in just three days, taking the market cap back above the $1 trillion-level. Remarking on the same the analyst said, Mid and small caps in particular rose the fastest The on-chain metric 200-day moving average (DMA) further confirmed this sentiment, with the altcoins outpacing the indicator. Here, its worth pointing out that back in November, roughly 80%–85% of Binance-listed altcoins were trading below their 200-DMA. Source: CryptoQuant At the time of writing though, around 56% of those altcoins were trading above their 200-DMA. This implied that more than half are now once again showing bullish long-term price structures. Such a major shift pushed DarkFost to ask a very genuine question… Did Trump just kick off altseason? The answer to this









