Market breadth rises: altcoins finally follow Bitcoin

Market breadth in the crypto market is clearly picking up. The percentage of coins above their 50-day and 200-day moving averages is rising sharply, which suggests the recent recovery is more broadly supported than by Bitcoin alone. That distinction is crucial, according to market analysts: a rally in which the rest of the market lags behind is vulnerable. A rally in which breadth moves in tandem is far less so.

In short:

• The percentage of altcoins above their 200-day moving average is climbing towards 30%, the highest level in months.
• The share of coins above their 50-day average is also climbing to around 75%, comparable to earlier bull market levels.
• Analysts argue that broad market participation is a more reliable signal than the price of a