Cryptocurrency analysis firm Alphractal and its CEO Joao Wedson made remarkable assessments regarding the current state of the market.
Wedson noted that the Altcoin Season Index is providing signals of opportunity, but current data suggests that we are still in a Bitcoin-heavy period.
Wedson stated that the last 60-day data showed that Bitcoin outperformed altcoins. Stating that this situation should not be interpreted as a negative development, the CEO said, “This period, when altcoins are still lagging, may be a window to make savings.”
Stating that altcoins have remained weak against BTC in the last 48 hours, Wedson said, “However, history repeats itself; these cycles always repeat, a reaction movement may come soon.”
In the analysis conducted by Alphractal, it was stated that the Fear and Greed Index was at the level of 65, indicating that investor sentiment is still neutral or slightly optimistic.
The firm announced that Bitcoin’s Sharpe Ratio has started to rise again along with the price, indicating that BTC’s risk-adjusted return is improving and the rally is occurring on healthier ground.
*This is not investment advice.
