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This condition has fueled speculation that the pattern seen before the 2017 and 2021 altseasons is beginning to form again.
Crypto analyst Ash Crypto said via X that strengthening US manufacturing activity could be one of the early signals of rising liquidity and investor interest in risk assets.
“The same breakout that started the 2017 and 2021. Altseason is happening again,” Ash Crypto wrote on Wednesday (5/8).
Nevertheless, Ash Crypto stressed that the pattern does not mean altseason has started immediately. According to him, previous cycles took several months before capital rotation truly flowed into the altcoin market.
$DOGE