The cryptocurrency market shows signs of change while altcoins leaders record stronger gains than bitcoin. The latter has progressed so far this year, even reaching $ 124,000 in mid-August. However, in recent days, he has started to drop while several large alternative currencies have continued to climb. This raises questions as to the possible arrival of the long -awaited “Altcoins season”.
In short
- Altcoins leaders display greater gains than bitcoin, reporting a possible change in the Crypto market.
- BNB has reached a new record at $ 882, now located around $ 862, remaining more than 3 % up over the last 24 hours.
- Bitcoin's request has slowed down; The apparent demand went from 174K BTC in July to 59K BTC on August 20.
- Analysts suggest that the next Altcoin season will be selective, promoting parts with solid fundamentals.
Altcoins record significant gains
ChainLink (link) leads the group of strong movements. The Token won 13 % yesterday, canceling its previous losses, and continued on its momentum today with an additional 5 % increase in the last 24 hours, according to Coingecko. This upward trend is not limited to Chainlink, other major altcoins also record notable gains.
BNB, the BNB Chain token, is one of the best performers. Since the beginning of the month, it has continuously increased, reaching a new record of $ 882 Wednesdayaccording to CoinmarketCap. It has since dropped slightly at around $ 862, but the token remains more than 3 % up in the last 24 hours. This new milestone highlights the force of demand for BNB compared to the rest of the market.
Ethereum also progressed after a brief withdrawal. The token advanced 7 % to $ 4,350, reversing the decline in the day before. Over the past 24 hours, it is still up more than 3 %, continuing its rebound. Market analyst Michaël Van de Poppe described this movement as a strong recovery and noted that he signals the possibility of a new test of the previous summits.
Other altcoins have also joined the climb. Solana earned more than 4 %, Cardano added 2.5 %, and Aave is up by more than 4 %. These movements confirm the current outperformance of altcoins compared to Bitcoin.
Bitcoin slows down while request is weakening
On the other hand, the Bitcoin gains remain modest. In the past 24 hours, the largest cryptocurrency only increased by 0.2 % and is around $ 113,800. Compared to the more marked increases observed in several altcoins, the performance of Bitcoin seems limited.
A cryptocurrency report suggests that Bitcoin demand has slowed heavily. So what do the data say?
- Apparent demand increased from 174K BTC in July to only 59K BTC on August 20, a drop of almost two thirds.
- Institutional activity has weakened, with net entries from the Bitcoin -linked stock market funds in the last 30 days totaling only 11K BTC, the lowest since April.
- The wider accumulation strategies were also greatly reduced, falling from a peak of 171K BTC in November 2024 to 27k BTC last month.
This cooling of demand was reflected in the overall market share of Bitcoin. Its dominance is now close to a six -month lower. At the same time, altcoins gain ground, showing that investors are increasingly ready to direct their capital far from Bitcoin to alternative assets.
A different Altcoins season?
While altcoins outperform, analysts suggest that this period may not look like the previous cycles. Analysts of Bytetree, Shehriyar Ali and Charlie Morris, stressed that the next phase, if it is transformed into a full season of Altcoins, is unlikely to produce the same general increases observed in previous years. Instead, they provide selective growth, where parts with solid fundamentals and proven utility are rewarded, while weaker tokens without solid support could find it difficult to progress.
The Altcoin index, currently at 41, strengthens this vision. This measure shows that altcoins are held well in front of Bitcoin, and the current position gives way to an additional increase if the momentum of investors continues to turn to these assets.
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