- Bitcoin moved to regain new yearly highs at $56,775 in the last 24 hours.
- An analyst argued the market is set for the biggest altcoin season in history.
- The analyst foresees an altcoin valuation likely hitting $3.2 trillion this season.
While the overall crypto market recently reclaimed a valuation exceeding $2.14 trillion, Mags, a technical analyst in the crypto community, believes the altcoin market alone could be worth $3.2 trillion. This view emerged as Bitcoin moved significantly to regain a new yearly high in the last 24 hours.
In particular, CoinMarketCap data shows Bitcoin has grown by over 10.4% from a low of $50,960 to as high as $56,775 within the past day.
Among the top ten most prominent cryptos, the prime beneficiaries of the Bitcoin-led rally include Solana (SOL), which has reached $112 from $100. Also, Cardano (ADA) has reclaimed the $0.6 territory with an 8% gain, while Dogecoin (DOGE) has recorded double-digit percentage gains.
Source:coinedition.com
