Crypto Analyst: Bull Market Hinges On This Indicator Reaching 45%

Crypto analyst Jamie Coutts believes the crypto market is in the final stages of its bearish phase. While the market has declined, Coutts sees a favorable risk/reward ratio for investing in certain digital assets. The alt season indicator is surging, but a sustained Bitcoin rally is needed for this to continue. Coutts advises against investing in altcoins when they are in a downward trend, even if they outperform Bitcoin. A key indicator to watch is the percentage of digital assets above their 200-day moving average, which should reach 45% for a bull market to resume. Despite the downturn, fundamental metrics such as daily active users and daily transactions have increased. Daily fees have decreased due to the implementation of EIP-4844. A bull market may emerge when prices and fees trend upward together. As of now, the crypto market cap excluding Bitcoin is $879.676 billion.