Connect with us
DAPA Banner

Crypto World

Altseason chatter collapses as dogecoin correlation hints at rebound

Published

on

(Santiment)

The crypto crowd has given up on altcoins. And that might be the most bullish thing about them right now.

Santiment’s social volume tracker shows weekly mentions of “altseason” across social media have fallen to rock bottom, the lowest reading in at least two years.

The term is essentially a proxy for retail greed and speculation. When everyone’s talking about altseason, it usually marks a top. When nobody’s talking about it, large holders have historically started accumulating.

(Santiment)

Every major spike in altseason chatter over the past two years coincided with a local top in DOGE. Every period of silence was followed by a rally. The pattern isn’t perfect, but the correlation between crowd disinterest and subsequent price recoveries is hard to ignore across multiple cycles.

The current apathy is earned. Altcoins have been brutalized since October’s crash. Dogecoin is down roughly 75% from its cycle peak. Solana has shed over 60%. Cardano has lost more than 70%.

Advertisement

The broader altcoin market has been bleeding against bitcoin for months, with capital rotating into BTC and stablecoins rather than chasing lower-cap tokens. There’s simply nothing left to be excited about if you’ve been holding alts through this drawdown.

Other sentiment indicators confirm the exhaustion. The Crypto Fear and Greed Index has spent most of February and March oscillating between “fear” and “extreme fear.”

The Coinbase Premium Index stayed negative for over 40 consecutive days through February, signaling that U.S. retail interest was absent even from bitcoin, let alone more speculative assets. Google Trends data for terms like “best crypto to buy” have flatlined while searches of “bitcoin to zero” hit a U.S. record earlier in the month.

Meanwhile, the on-chain picture has been quietly diverging from sentiment. Bitcoin wallets holding 100+ BTC approached 20,000 for the first time in late February, suggesting large holders were accumulating the dip.

Advertisement

The data does not directly mean a rally is imminent; however, with the ongoing Iran conflict pressuring financial markets all over the world. The altcoin market needs bitcoin to stabilize before it can rotate lower on the risk curve.

The conditions for an altseason aren’t here yet, but the sentiment setup is.

Source link

Advertisement
Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Crypto World

Morgan Stanley Sets Bitcoin ETF Fee at Ultra-Low 0.14%

Published

on

Morgan Stanley Sets Bitcoin ETF Fee at Ultra-Low 0.14%

Investment bank Morgan Stanley is seeking to launch its spot Bitcoin exchange-traded fund at a 0.14% fee, which would make it the cheapest in the US market and potentially force rivals to cut fees to stay competitive.

The 0.14% fee, proposed in Morgan Stanley’s latest S-1 registration statement on Friday, would be one basis point below the Grayscale Bitcoin Mini Trust ETF (BTC), currently the cheapest in the US market, and 11 basis points below the BlackRock-issued iShares Bitcoin Trust ETF (IBIT).

“Big move here. They are not messing around,” Bloomberg ETF analyst James Seyffart said, predicting that the Morgan Stanley Bitcoin Trust (MSBT) is “likely to launch in early April.”

Source: James Seyffart

Fellow Bloomberg ETF analyst Eric Balchunas said the low fee means that none of Morgan Stanley’s roughly 16,000 financial advisors — which manage $6.2 trillion in client assets — would feel conflicted in recommending the product to its clients.

Given that spot Bitcoin ETFs track the price movements of Bitcoin (BTC), Morgan Stanley’s ultra-low fee could spark a fresh fee war in the $83 billion market, putting immediate pressure on rivals to cut costs or risk losing assets.

Advertisement

Regulatory approval would make Morgan Stanley the first bank to issue a spot Bitcoin ETF, expanding access to Bitcoin exposure for millions of its high-net-worth clients.

“They are the ultimate gatekeepers of rich boomer money,” Balchunas added.

Morgan Stanley previously selected Coinbase and Bank of New York Mellon as the proposed custodians for its Bitcoin ETF.

Morgan Stanley seeking suite of crypto ETFs, banking charter

Morgan Stanley, previously one of the more crypto-hesitant Wall Street firms, filed for the spot Bitcoin ETF in the first week of January, along with a Solana (SOL) ETF.

Advertisement

Related: Bitcoin traders see 53% odds of sub-$66K BTC by April 24 

It then filed papers for a staked Ether (ETH) ETF later that week, and by the end of the month, the bank appointed one of Morgan Stanley’s longest-standing executives, Amy Oldenburg, to lead its digital asset team.

Source: James Seyffart

Morgan Stanley also applied for a national trust banking charter on Feb. 18, seeking to custody certain digital assets and execute purchases, sales and swaps for clients in addition to staking services.

In October, before the investment bank adopted its institutional crypto strategy, it recommended a 2% to 4% allocation to crypto portfolios for investors. It also allowed its financial advisors to recommend crypto funds to clients with individual retirement accounts (IRAs) and 401(k)s.

Magazine: Bitcoin may face hard fork over any attempt to freeze Satoshi’s coins

Advertisement