Hedera's price movement today can be attributed to a shift in investor focus towards altcoins as Bitcoin's price fell below the $100,000 mark. This shift has been highlighted by veteran traders who anticipate an "altseason," where altcoins like Hedera (HBAR) are expected to outperform Bitcoin. Michaël van de Poppe, a seasoned crypto investor, noted that Bitcoin's current price action resembles last December's trends, suggesting a potential rise in altcoin interest. This sentiment is echoed by another analyst, Milky Bull, who predicts that the altseason could last until March 2025, further boosting altcoin prices.
Despite the recent 23% drop in HBAR's price over the past week, today's trading has shown a positive turn. The cryptocurrency has experienced a 3.35% increase, with its price reaching a high of $0.300721. This uptick suggests a renewed interest in HBAR, possibly driven by the broader market's focus on altcoins.