2 old coins gain strength while Bitcoin enters a new phase
While Bitcoin enters a new on-chain trend phase, two old coins stand out due to their growing correlation with the leading cryptocurrency and their resistance in times of market fluctuations, according to a new analysis by Joao Wedson, CEO of the analysis company Alphractal.
In a recent market update, Wedson pointed to Solana (Sol) and Ethereum (ETH) as two old coins that correlate closely with the Bitcoin course. The correlation of Sol with BTC rose from 0.53 to 0.75, while Ethereum retained its position as one of the most correlating old coins. “ETH and theta currently have the highest correlation with Bitcoin,” said Wedson. “This makes them first-class candidates to benefit from a persistent BTC rally.”
With increasing correlation, these tokens could become strategic options for investors who are striving for an altar coin engagement without getting too tense from the Bitcoin dynamics. According to Wedson, a higher correlation often signals a stronger market integration and higher investor trust.
Altcoin cleaning strengthens the ecosystem
Wedson also pointed out the disappearance of over 1,400 old coins from the active lists – a trend that he considers to be positive for the sector. Many of these projects were either fraud, there was no real application cases, or they could not generate sufficient volume. “Only the most durable and most valuable projects remain”, said Wedson. “That makes the market more secure and more innovative.”
The mass list clears the way for stronger fundamental data, since capital and attention shift to projects with real applications, robust security and active development.
On-chain metrics show new Bitcoin cycle
Alphractal also found that the SOPR trend signal-an indicator that measures whether investors sell with a profit-rose in the current cycle for the third time. This indicates a unique phase of the housesee. “The current behavior is not similar to a bear pattern,” added the company and advised investors to remain careful but calm.
Since Solana and Ethereum gain tensile force and the wider market sorted out weaker values, the basis for a more sustainable Altcoin season could form.
