Bitcoin price cools, ushering in the most impressive ‘altseason’ since 2017, says crypto trader.

Bitcoin (BTC) surged above $64,000 ahead of the weekly close on April 28, while altcoins showed signs of recovering. Stronger BTC price momentum was observed over the weekend, with BTC/USD reaching a low of $62,400 before reversing and maintaining higher levels, currently hovering around $63,500. Altcoins also performed well during off-peak trading hours, with the total altcoin market cap up approximately 1% on the day. However, some traders expressed caution, noting that altcoins still need to break the trend of setting weekly highs on Mondays or Tuesdays. Sell-side pressure on Bitcoin at range highs was expected to prevent further upward movement. On the other hand, some traders predicted a full-fledged altseason that could rival the market’s previous ascent to all-time highs in 2017. The dominance chart for stablecoin Tether (USDT) suggested that when USDT.D goes down, altcoins tend to go up. The start of “TradFi” trading, including Bitcoin futures, was eagerly awaited by some traders for further insights into the crypto market’s trajectory. Despite consolidating below previous cycle all-time highs, Bitcoin’s monthly chart looked promising to trader Alan Tardigrade, who argued that it was still sitting above the bullish Triangle Top. This article does not provide investment advice or recommendations, and readers are encouraged to conduct their own research before making any decisions.