Altcoins Stage a Revolt: Bitcoin’s Dominance Cracks as Alts Rally
Move over, Bitcoin—altcoins are making their play. For the first time in months, Ethereum, Solana, and other major alts are surging independently of BTC’s gravitational pull. Traders whisper about an impending ’altseason,’ though skeptics warn it might just be another pump before Wall Street’s usual rug-pull.
Key indicators flash bullish: ETH/BTC pairs break resistance, memecoins defy gravity, and DeFi TVL creeps upward. Even the usual suspects—BNB, XRP—are posting double-digit weekly gains. But let’s not kid ourselves: this could just be the market’s way of recycling dumb money before the next correction.
One thing’s certain: the crypto casino is back open for business. Just don’t bet the farm—your bankster friends already did that with your pension fund.
Bitcoin Correlations With Altcoins Weakens
As current market trends fluctuate, key indicators are starting to point to a potential shift from a Bitcoin season to an Altcoin Season. João Wedson, an on-chain expert and founder of the analytics platform Alphractal, shed light on the likelihood of an altseason, claiming it is happening this cycle.
After delving into the Altcoin Season Index vs Bitcoin, the on-chain expert noted that the cryptocurrency market may be on the cusp of a major shift. Presently, the market is about to reach a point where a large number of altcoins will no longer follow Bitcoin’s trajectory as often observed in past cycles.
According to Wedson, these digital assets are now charting their own path, stating they’ve become stubborn, suggesting a unique season for alts. This increasing decoupling from Bitcoin’s price trajectory has sparked new conjecture that an altseason, which is traditionally characterized by notable gains in non-BTC assets, may be rapidly approaching.
The expert stated that while BTC is at all-time highs, most altcoins have limited room to fall, with the exception of a few of the top market-cap coins. Such a development usually marks the beginning of a phase in which capital begins to FLOW into non-BTC assets.
Considering the current trend, the expert is confident that an altseason at this point is inevitable. When the season finally occurs, it is expected to run quickly, and the rotation will continue regardless of whether BTC’s price rises or falls in the NEAR future.
In the meantime, Wedson has issued a stark warning to investors about potential volatility as they continue to hold on to bitcoin and stablecoins in the current market state. “From a big trader or fund manager’s perspective, there’s little sense in holding BTC or stablecoins exclusively right now,” the expert stated.
A Massive Altseason On The Horizon
A recent analysis from crypto analyst and trader Mags reveals that the crypto market is about to enter an altcoin season in the following weeks. His bold analysis is based on past cycle trends involving an RSI (Relative Strength Index) + MACD (Moving Average Convergence Divergence) Confluence.
Following an RSI + MACD confluence in the 2021 market cycle, BTC witnessed a sharp decline in its market dominance, which paved the way for an altseason. With the setup reappearing, the analyst anticipates a similar result. However, this time, Mags claims that the development might lead to the biggest altseason of this cycle.
