MARKET WRAP: Markets are recovering: BTC above $42K, ETH topped $3K and crypto stocks are up. Is 'altcoin season' making a comeback? Not quite.
by Blockchain Center. So far, roughly 25% of the top 50 coins are performing better than bitcoin over the past 90 days, which is below the 75% threshold to signal a bullish phase for altcoins .
Instead, based on previous cycles, altcoins tend to sustain their outperformance once the indicator crosses above the 50% neutral mark.Another indicator of investor appetite for risk is the performance of crypto-related stocks relative to BTC. The chart below shows the recent outperformance of the Bitwise Crypto Industry Innovators exchange-traded fund , which tracks the performance of companies that generate the majority of their revenue from their crypto business activities. BITQ is now ahead of BTC over the past 30 days, which typically signals a bullish turn in crypto markets.
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