dailyhodl.com
Real Vision analyst Jamie Coutts believes the altcoin market is gearing up for a massive breakout against Bitcoin (BTC).
The former Bloomberg analyst tells his 18,100 followers on the social media platform X that the altcoin season index, which measures the profitability of digital assets relative to BTC, could soon start flashing bullish for alts.
Says Coutts,
“Based on where we are in the crypto, presidential and, most importantly, the liquidity cycle, an altseason signal is likely in the coming weeks.”
Coutts says that a historic signal of an alt season kicking off is when both the smart contract platform (SCP) sector rises while the alt season index is in an uptrend, represented in green arrows on his chart below.
While the alt season index has yet to increase, SCP projects are starting to flash bullish, he says. He picks the top alt projects he believes will perform well in the weeks ahead, including Solana (SOL), NEAR Protocol (NEAR) and Toncoin (TON).
“One can try to pre-empt [alt season] or look at the assets already outperforming (from that 26% [altcoin season index]) and bet on their continued relative strength. The SCP assets with the highest relative strength versus BTC: SOL, NEAR, TON.”
SOL/BTC is trading for 0.00250 BTC ($168) at time of writing, up nearly 1% in the last 24 hours.
Meanwhile, NEAR is trading for 0.0001135 BTC ($7.63) at time of writing, up slightly on the day and TON is trading for 0.00009646 BTC ($6.46) at time of writing, up 1.17% in the past 24 hours.
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