BTCUSD:Bitcoin has soared nearly 27% this month, marking its bi
Furthermore, many altcoins are following BTC according to data provider ByteTree’s Market Width Index. This indicator measures the number of digital assets increasing compared to the decreasing number of coins.
Powered by CryptoCompare, the Market Width Index collects real-time data for over 5,300 digital currencies and categorizes tokens according to their trends on a scale of 1 to 5. A value of 5 means the coin is in a strong upward trend, and 0 means the coin is in a strong upward trend. A coin that is in a strong uptrend is in a strong downtrend.
At the time of writing, only 4.7% of tokens are showing a significant bearish trend, the lowest level since January. This shows that the market breadth is expanding and more coins are participating in the Bitcoin bull market.
Powered by CryptoCompare, the Market Width Index collects real-time data for over 5,300 digital currencies and categorizes tokens according to their trends on a scale of 1 to 5. A value of 5 means the coin is in a strong upward trend, and 0 means the coin is in a strong upward trend. A coin that is in a strong uptrend is in a strong downtrend.
At the time of writing, only 4.7% of tokens are showing a significant bearish trend, the lowest level since January. This shows that the market breadth is expanding and more coins are participating in the Bitcoin bull market.
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