Altcoin Correlations Shift as Bitcoin Enters New On-Chain Phase, Says Analyst According to Wedson, a number of altcoins are once […]
The post Bitcoin Signals Fresh Phase as Weak Altcoins Disappear, Says Crypto Expert appeared first on Coindoo.
Altcoin Correlations Shift as Bitcoin Enters New On-Chain Phase, Says Analyst
According to Wedson, a number of altcoins are once again moving in sync with Bitcoin, signaling a potential shift in market structure.
While XRP’s correlation to BTC has slipped slightly—from 0.79 to 0.70—Solana (SOL) has seen a notable increase, jumping from 0.53 to 0.75. Ethereum (ETH) and THETA, meanwhile, remain the most closely aligned with Bitcoin’s price action. “These assets are mirroring BTC’s movements more than others, which may offer clues for short-term trading,” Wedson noted.
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He also addressed the fading presence of over 1,400 altcoins, describing their disappearance as a healthy market development. “It’s a sign of maturation. Weak, speculative projects are fading out, leaving space for real, problem-solving crypto assets to shine,” he said.
Alphractal added that Bitcoin is currently undergoing a rare on-chain event. The SOPR Trend Signal—used to measure when holders are selling at a profit—is now rising for the third time in this bull market. The firm described the pattern as unprecedented, stating, “This kind of triple-rise in the SOPR signal hasn’t been observed before. As long as the blue line stays above the orange, market conditions remain stable.”
The firm urged calm observation, suggesting that while the signal isn’t yet flashing danger, it remains a key metric to watch in the current cycle.
The post Bitcoin Signals Fresh Phase as Weak Altcoins Disappear, Says Crypto Expert appeared first on Coindoo.
Source: https://coindoo.com/bitcoin-signals-fresh-phase-as-weak-altcoins-disappear-says-crypto-expert/
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Benson Toti
Benson Toti