Glassnode: Altcoin Trading Volume Returns to Normal, Prior Speculative Frenzy Coincided with BTC Local Top

Glassnode has stated that altcoin trading volume has now returned to normal levels. During September of this year, total altcoin trading volume at one point reached 4 times that of Bitcoin, reflecting a clear speculative frenzy in altcoins at the time. Glassnode noted that such speculative activity often coincides with local market tops, and this previous round of altcoin trading enthusiasm also aligned with the timing of Bitcoin reaching a local high near approximately $87,000.