Positivity has returned in the digital asset market. This time though, it is alts that have been leading the charge.
Bitcoin has hit an all-time low in terms of its share of total cryptocurrency tweet volume. BTC tweet volume dominance fell below 32% after exceeding 60% last summer. A drop of nearly 50% from highs.
Bitcoin is seeing an uptick in its tweet volume (line chart) but market cap has been growing at a faster rate.
Sentiment is leading price movement in this rally. If we look at Tezos for example we see that massive spikes in twitter conversations (line) came before upwards price movement.
If we look at a rolling chart of the 30 day return of the five largest digital assets, we can see that altcoins have been significantly outperforming Bitcoin across the board. Bitcoin is the blue line. Among the largest coins BCH has performed the best over the last 30 days with a ~75% return.