Bitcoin: On-Chain Tracker Points Out Interesting Difference Between Current And Past Rallies

Name	Symbol	Market	Market Cap ($)	Algorithm
BitDAO	BITUSD	Crypto	1,376,852,122	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

BitDAO

BITUSD

Crypto

1,376,852,122

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.010	-1.05%	0.945	0.9392	0.9448

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.010

-1.05%

0.945

0.9392

0.9448

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.9772	0.9011	0.955	0.955	0.300000 - 1.97

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.9772

0.9011

0.955

0.300000 - 1.97

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	21:57:00	5.05	0.944	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

21:57:00

5.05

0.944

USD

Price x Volume	Volume	Base Symbol	Related Pairs
60,666.86	64,523.95	BIT	BITEUR	BITGBP	BITBTC

Price x Volume

Volume

Base Symbol

Related Pairs

60,666.86

64,523.95

Bitcoin: On-Chain Tracker Points Out Interesting Difference Between Current And Past Rallies

24/10/2023 11:00pm

NEWSBTC

The current Bitcoin rally has taken most of the crypto space by surprise after going from under $27,000 to $35,000 in less than two weeks. As prices continue to fly, on-chain data tracker Santiment has revealed something different between the current Bitcoin rally and its previous rallies above $30,000. Altcoins Refuse To Fall Behind Bitcoin In the report that was posted on X (formerly Twitter), Santiment revealed that altcoins have changed their usual routine for when the Bitcoin price is surging. For instance, when Bitcoin had rallied to $30,000 in April and July of this year, altcoins had taken a back seat, allowing BTC to enjoy the shine. Related Reading: Economist Peter Schiff Raises Concerns About Spot Bitcoin ETFs This time around, the rally has been just as prominent in altcoins as it has been in Bitcoin, and in some cases, even outshining BTC’s price trajectory. Some of these altcoins that have shown teeth this time include Chainlink’s LINK, Polygon’s MATIC, Aptos’s APT, AAVE, and UIP. All of these altcoins have defied the established trend with their prices surging double-digits in a short time. Source: Santiment on X Not only are these altcoins seeing a lot of success at a time when Bitcoin would be the only one rallying, but they have also managed to decouple completely from the leading cryptocurrency. According to Santiment, all of the named altcoins “are all seeing their best performing decouplings of 2023.” Meme Coins Show Their Prowess As the crypto market rally has progressed through some of its most bullish stages, other altcoins such as meme coins have begun to also show a lot of promise. The usual culprits such as PEPE saw double-digit gains as well, with ELON rallying up to 57%. Additionally, $BITCOIN also saw a $36 rise in one week. Source: Santiment on X PEPE has continued to surge as well and is up 34.55% in the last day, bringing its weekly gains to 51.49%. The meme coin’s run has seen it emerge as a top gainer, also trending alongside the likes of Bitcoin (BTC) and Chainlink (LINK). Related Reading: Solana Remains Institutional Investor Darling As Inflows Continue Another altcoin that stands out is Troller’s TRB. The coin rose around 750% in a 3-month period to emerge as one of the winners of the rallies. It also saw large transactions from unique whale addresses, suggesting a very high level of interest in the altcoin from investors. Source: Santiment on X In all, this rally is completely different from the previous rallies recorded this year in that the whole market seems to be pulling up together. This is interesting because rallies like these are usually seen in bull markets, with 2021 serving as a perfect example. BTC price falls below $34,400 support | Source: BTCUSD on Tradingview.com Featured image from Business Insider, chart from Tradingview.com

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