Wed Sep 25 09:15:18 UTC 2024: ## Altcoin Season Looming as Bitcoin Nears All-Time High, Says Glassnode
**[City, Date]** – Analytics firm Glassnode’s founders, Jan Happel and Yann Allemann (known as Negentropic), predict that altcoin season is on the horizon. The pair, who boast a following of 63,200 on X, believe that once Bitcoin breaks its all-time high of $74,000, a surge in altcoin performance will follow.
“Altcoins have mirrored Bitcoin’s bullish momentum,” they explain. “We’re on the brink of altcoin season, and it will likely become intense as Bitcoin surpasses its ATH and enters uncharted territory.”
Happel and Allemann suggest this altseason could be part of a broader crypto market rally, with all digital assets experiencing a simultaneous surge. They point to the traditional cycle of Bitcoin leading the charge, followed by Ethereum, large-cap coins, mid-caps, and finally small-caps.
Despite Bitcoin’s recent three-fold increase without a corresponding altcoin season, the analysts highlight the spike in their Bitcoin-altcoin cycle indicator to nearly 50, even before Bitcoin’s recent rally. This indicates a shift in trader sentiment favoring altcoins over Bitcoin, signaling a potential altcoin season.
“We believe the next run-up will happen together,” they conclude.
With Bitcoin currently trading at $64,246, the crypto community is eagerly awaiting this potential shift in market dynamics.
First Piper 