Bitcoin (BTC) surged past $64,000 before the weekly close on April 28, while altcoins looked to recover. BTC/USD reversed after reaching weekly lows of $62,400 and maintained higher ground around $63,500. Altcoins also performed well, with the total altcoin market cap up around 1% on the day. Popular trader Skew noted that altcoins bounced nicely but still need to break the trend of setting weekly highs around Monday to Tuesday. However, he expected sell-side pressure to limit Bitcoin’s upward movement. Another trader, Moustache, believed that a full-fledged “altseason” was coming, rivaling the market’s peak in 2017. He suggested that when Tether’s dominance goes down, altcoins go up. Other traders awaited the start of “TradFi” trading, such as Bitcoin futures, for further market cues. Despite consolidating below previous all-time highs, Bitcoin’s monthly chart appeared bullish to trader Alan Tardigrade. He compared Bitcoin’s current state to a pre-breakout period for the Nasdaq Composite Index in 2013. This article does not provide investment advice or recommendations, and readers should conduct their own research before making any decisions.
Bitcoin price cools, prompting crypto trader to declare best 'altseason' since 2017
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