Recent data from Alphractal points to a possible shift in momentum toward altcoins, which may soon surpass Bitcoin's dominance. As Bitcoin's dominance has peaked at 64%, past trends indicate that when Bitcoin's market share drops from this level, altcoins often experience significant rallies, sometimes reaching increases of 50 times. Currently, the altcoin dominance—excluding Bitcoin and stablecoins—stands at approximately 28.4%, nearing crucial support of 24% to 25.3%. Analysts note that altcoins have historically surged when hovering around these support levels. By focusing solely on altcoins and excluding Ethereum, the dominance reads 18.92%, approaching the strong support threshold of 18%. Crypto expert CryptoElites highlights this pattern, suggesting that the same trajectory observed in 2019 and 2021 might be emerging once again. As Bitcoin's dominance rises, there are growing indications that altcoins could soon reclaim the spotlight in the crypto market.
Many traders are keenly observing the altcoin index, which is currently positioned at 22, reflecting the anticipation of an impending altcoin season. Overall, this developing situation could set the stage for exciting opportunities in altcoin investments as market conditions shift.
Many traders are keenly observing the altcoin index, which is currently positioned at 22, reflecting the anticipation of an impending altcoin season. Overall, this developing situation could set the stage for exciting opportunities in altcoin investments as market conditions shift.
