Capital continues to bleed out of BTC and ETH into stablecoins, no altseason in sight
According to Ali Martinez, Capital continues to get out of Bitcoin and Ethereum in Stablecoins, without clear sign of a next seasonal altes.
In his Recent article on xThe chain data analyst, Ali Martinez, stressed that capital continued to get out of Bitcoin (BTC) and Ethereum (Ethn) in stablecoins. He also noted that there are not yet signs of seasonal altes. “”
The graph accompanying Martinez’s declaration shows a clear trend in the decline in capital entries in Bitcoin and Ethereum, while stablecoins experienced a significant increase in the change in net capital. More specifically, on February 4, Bitcoin experienced a net capital variation of 0.0412 million dollars and Ethereum experienced $ 0.0048 million. On the other hand, the Stablecoins have had a much greater change, with a change in net capital of 0.0644 million dollars. This suggests that investors are currently promoting safer assets, probably expecting better entry points before making their next move.
Historically, the rotations of Bitcoin capital in coins with smaller capitalization reported the start of a Altcoin season. According to CoinmarketcapThe Altcoin season is generally marked by 75% of the 100 best cryptos (excluding stablescoins and tokens supported by assets) outperforming bitcoin in the last 90 days. For the moment, however, the Coinmarketcap index is only 33 years old. Martinez’s graph also shows that the oscillator indicators remain in a neutral position, showing no evidence of a brewing season.
DeutscherAnother analyst shared his own reflections on the reasons why this cycle is different with regard to the arrival of the Alts-season. He explained that instead of moving to established altcoins, traders continued tokens on a low capitalization chain. Consequently, this speculative capital “has remained stuck in chain illite pieces of memes,” he said in His message on x.
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