Lack of interest in altcoins may be a bullish signal, analysis suggests

A lack of interest in altcoins could be a precursor to a market-wide rally, CoinDesk reported. According to Santiment's Social Volume Tracker, weekly social media mentions of "altseason" have fallen to a two-year low. The report highlighted a contrarian view, noting that markets tend to top when everyone is calling for an altseason, while whales often begin accumulating when sentiment is at its lowest. Since a large-scale liquidation event last October, DOGE has fallen around 75% from its cycle high, with SOL down 60% and ADA down 70%. The Fear & Greed Index has remained in fear or extreme fear territory since February, and the Coinbase Premium Index, which reflects U.S. buying pressure for BTC, has been negative for 40 consecutive days, suggesting weakness even in Bitcoin. In contrast, the number of wallets holding more than 100 BTC approached 20,000 at the end of February, indicating accumulation by large-scale investors at lower prices. While a full-fledged altcoin rebound will likely require stabilization in both the geopolitical landscape and Bitcoin's price, the report concluded that the psychological conditions for a rally are now in place.