Kryptanium Capital: The copycat season of this bull market may start next week

According to BlockBeats news, on March 11, Kryptanium Capital co-founder Daniel Yan posted on social media that he personally believes that the altcoin season will arrive after Bitcoin clearly breaks through ATH. Daniel Yan said that the logic of the last bull market copycat season is that the BTC halving narrative coupled with institutional capital inflows drove the continued rise in BTC prices before the halving. But after the halving, traders took profits on the halving trade, with funds flowing into altcoins with more potential gains. This is similar to the current cycle, which is driven by ETF inflows and the same bull market driven by institutional demand. For most altcoins, ATH is still far away, which can be psychologically attractive to investors. And Bitcoin’s ATH confirms that we are indeed in the heat of a bull market and people’s greed is going to go crazy. However, Daniel Yan also reminded investors to be wary of short-term bull market traps. Bitcoin's weekly closing price needs to be higher than $70,000 to confirm its "obvious breakthrough" nature. BlockBeats Note: Daniel Yan said that the price of Bitcoin was 69,800 before editing this article and had risen to 71,000 at the time of publication, so the altcoin season may start next week.