The market value of BTC has increased by 110% this year, and BTC and ETH have significantly outperformed traditional assets such as gold.
According to Glassnode's latest on-chain weekly report, the digital asset market has achieved impressive returns in 2023, with the performance of BTC and ETH significantly outperforming traditional assets. Their performance has exceeded that of gold by 93% and 39%, respectively, at their highest points. The market correction of these two major digital assets is significantly smaller than in previous cycles, indicating investor support and positive capital inflows. The Altseason indicator shows the first significant increase against the US dollar since the high point of this cycle. However, it is worth noting that this occurred against the backdrop of Bitcoin's continued dominance, which has risen from a cyclical low of 38% at the end of 2022. Bitcoin's market value has grown 110% so far this year, while the market value of altcoins has grown 37%.
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