Crypto Market Sees $55B Inflow; Altcoin Season Is Here, Says Analyst

This week the price of Ethereum (ETH) crossed $2k for the first time in nearly one year. Expert crypto traders believe the altcoin season has begun, so investors have plenty of opportunities to make significant returns, provided they proceed cautiously.

According to analysts, liquidity flows from Bitcoin (BTC) to Ethereum in a bull market, then altcoins, and finally shitcoins before the cycle repeats itself.

A German crypto influencer on Twitter argued that the current phase is more like 2019 than a real bull market. He said investors should expect coins to react more slowly, with sudden price jumps, violent crashes, and the unpredictable cycle ending.

Die Altcoin Season hat begonnen! ??
Worauf solltest du achten???

1. Altcoins bieten riesige Chancen und einige machen unglaubliche Returns damit (+100x), der Großteil verliert aber eher Geld!

2. In einem Bullenmarkt-Markt ist alles klar und vorhersehbar, Liquidität fließt von… pic.twitter.com/WC5vcvBXCO

— Hoss (@hoss_crypto) April 14, 2023

According to data from the market tracking website, CoinMarketCap, the global crypto market saw an in-flow of over $55 billion in the last 24 hours, putting its market share at nearly $1.3 trillion. The new milestone the most popular crypto, Bitcoin, attained contributed immensely to the new figure.

BTC trades at $30,838, with a 10% increase in the last seven days and a market cap of over half a trillion dollars. The $30k price point represents its highest point this year and since June 2022, when the Terraform Lab’s projects imploded.

Similarly, ETH trades at $2,118 after gaining over 15% in the past week. Of the top ten cryptos with the largest market cap, Solana (SOL) was the best-performing coin. SOL grew by over 23% in the last seven days while crypto traders bought and sold nearly $1 billion of the token.

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