Crypto Market Rally Driven by Select Altcoins, Not Broad Bull Trend

The crypto market has been experiencing a rally in recent weeks, but experts say it's not yet a full-blown bull market.

A closer look at the data reveals that fresh inflows of $62.8 billion have entered the market since May 19, but they are primarily directed towards select altcoins rather than a broad range of cryptocurrencies.

The Altcoin Season Index, which tracks the performance of alternative coins, is still below the threshold that would confirm a genuine bull market. The index currently sits at 38, well short of the 75 level that would signal the start of 'altcoin season'.