The past few weeks have been pretty tense with a lot going on around the world and a wave of stress and FUD across social media, especially regarding the war in the Middle East between Iran and Israel. All of this has left us wondering : Will there be an altcoin season during this bull market ?
Altcoins Market
To understand what’s going on with altcoins, we need to take a look at TOTAL 2 (the total market cap excluding $BTC). It’s a great indicator that shows the real state of the altcoin market.
As you can see, even though Bitcoin hit a new all-time high, the recent pump in altcoins was nowhere near the local top made back in December of last year. The time for altcoins to shine isn’t here yet. While Bitcoin broke its previous ATH from the last bull run a long time ago, the altcoin market is still struggling to surpass its peak from that same cycle.
So How Can We Predict a Potential Reversal for Altcoins ?
That’s where the Bitcoin Dominance chart comes in.
As the name implies, this chart shows us the share of Bitcoin’s market cap within the entire crypto market cap.
- When dominance goes up, it means Bitcoin is outperforming altcoins.
- When it goes down, altcoins are outperforming Bitcoin.
Not gonna lie — Bitcoin dominance is still very strong, with a lot of momentum behind it. But we’re starting to see that momentum slow down, especially as it approaches a major resistance level.
Watch This Chart If You’re Into Altcoins
If you’re looking to track altcoins’ evolution, this is the chart to watch.
I’m seeing a lot of FUD on social media about whether an altseason will actually happen. Many people don’t believe in it anymore and are switching entirely to Bitcoin. But it’s important to remember:
💡 It’s exactly when nobody wants to buy altcoins… that it might be the best time to do it.
Looking Ahead
There are still many great things ahead. I’m feeling pretty confident about that.
The road won’t be easy, but I’m convinced that better days are coming for altcoins.
And you ? What do you think about a potential altcoin season ?
As always, thank you for reading !
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Disclaimer: This is not financial advice, you need to do your own research !
