Although Bitcoin broke a record in March with $73,000 in cryptocurrencies, it has been disappointing so far that altcoins have not been able to keep up with it. Glassnode founders Jan Happel and Yann Allemann, who make analyses with the account called ‘Negentropic’ on X, are of the opinion that the bull season is close in altcoins.

“When Bitcoin broke its new record…”

Stating that bull seasons in crypto usually take place with the familiar scenario, analysts used the following statements: “Bitcoin rises first. this is classic. Then money starts to enter Ether. Then coins with large market capitalisation, then medium-sized and then small-sized … We have witnessed that Bitcoin has risen 3 times since May, but there is no sign of an altcoin season. Now, in the altcoin bullish indicator, we see bullish signals, although Bitcoin has not yet shown any strength. Obviously, the next rise will come in both Bitcoin and altcoins. Still, we will first wait for Bitcoin to break the ATH record. We think that when BTC enters uncharted territory, the altcoin bull will also come.”

Bitcoin, which started 2024 great, was at the level of 40 thousand dollars in the first days of the year, while in March it saw a very sharp rise to $73,000. The largest cryptocurrency, which then fell with the arrival of halving in April, saw the level of $50,000 from time to time and rose to $70,000 once again in June.

Bitcoin, which once again saw the level of $49,000 with the surprise interest rate hike of the Japanese central bank in August, is trading around $64,000 in the minutes the news is written.