Bitcoin (BTC) Price Bounces After a Highly Volatile Day, Altcoin Sherpa Predicts "Weekend Altcoin Season"

Cryptocurrency markets are displaying gains on Friday, following a day marked by notable volatility in the crypto market.

Here are the latest updates.

Top Gainers:

Trader Notes: As Bitcoin prices turned green after a volatile day, crypto trader Altcoin Sherpa acknowledged the difficult market conditions but expressed relief that it’s Friday. He predicted a “weekend altcoin season” to begin on Saturday.

Altcoin Sherpa viewed Bitcoin as being in a bounce zone, with the high volatility suggesting potential for modest short-term gains. He advised scalping for most trades.

$BTC still a bounce region imo. volatility is high but guessing we go up a little bit in the short term. Still think all trades should be scalps for the new part, though https://t.co/n0Wnlo30rK pic.twitter.com/Jov4F6vm7F

He also viewed Bitcoin as having bottomed momentarily, while altcoins are expected to continue their slight rebounds.

According to Glassnode data, new investors now hold 49.6% of Bitcoin’s liquidity, indicating that seasoned investors have sold during the uptrend, with strong demand from new buyers absorbing the sell pressure.

The percentage of #Bitcoin wealth held by new investors (coins aged < 3m) has surged, now representing 49.6% of the network liquidity.

This infers that mature investors have meaningfully distributed coins across the uptrend, with new demand absorbing the sell-side pressure. pic.twitter.com/1qX9EuVgGA

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