Cryptocurrency market signals are fragile, analysts warn that it will hit local tops

Analysts warn that the cryptocurrency market may be about to hit a local peak, with open contracts in altcoins surpassing Bitcoin for the first time since December, indicating an overheating of risk appetite. Bitcoin’s correlation with the Nasdaq, S&P 500 and gold has fallen to months’ lows, while historical patterns suggest a 20% to 30% correction could occur before the uptrend is resumed.