Glassnode: Altseason signal holds, showing real strength beyond 'denominator effect'

On-chain analytics firm Glassnode said on X that its Altcoin Cycle Signal continues to indicate an altseason. The firm explained that the current strength surpasses the "denominator effect" it highlighted last month, where altcoins appeared stronger simply because of Bitcoin's weakness. Glassnode added that altcoins are now showing strong momentum on both a relative and absolute basis.