Crypto traders and several metrics suggest that an altcoin season is about to begin.
Bitcoin (BTC) price witnessed a sharp correction shortly after hitting a new all-time high at $69,324 on March 5
Meanwhile, altcoins, led by memecoins and AI-themed cryptocurrencies, have outperformed BTC over the last week, initiating a debate on whether the altcoin season (altseason) is here.
Bitcoin’s brief escapade above $69,000 on March 5 saw the global crypto market value cross the $2.5 trillion mark, reflecting the current bullish momentum. At the time of publishing, this figure stands at $2.52 trillion, according to data from CoinMarketCap.
