Crypto readers: Altcoin season cut short 😢 Find out why!

Crypto readers: Altcoin season cut short 😢 Find out why!

Altcoin Season Update for Crypto Enthusiasts 💰

Bitcoin has been receiving substantial market support due to the rising demand triggered by a successful run of a spot BTC ETF.

Is the Altcoin Season Over? 📉

Altcoin season, or “altseason,” is a phase in the cryptocurrency market where altcoins exhibit significant outperformance compared to Bitcoin. The two main indicators of altseason are Bitcoin’s dominance and the price performance of altcoins.

  • Bitcoin’s dominance decreases during altseason as investors move their capital from Bitcoin to various altcoins
  • A drop in Bitcoin dominance signifies that altcoins are gaining a larger market share

The decline in Bitcoin’s dominance was last observed earlier this year when it fell from 54% to 50%. However, it has since trended upwards, reaching 55% in the last month, marking the highest Bitcoin dominance since the March 2021 crash.

Bitcoin Dominance. Source: TradingView

During altseason, altcoins typically see significant price surges, outpacing Bitcoin’s growth and signaling the onset of altseason. Investors diversify their portfolios into altcoins to seek higher returns, thereby driving up altcoin prices.

  • When 75% of the top 50 altcoins outperform BTC over three months, it signifies an active and successful altcoin season
  • Recent data shows that only eight cryptocurrencies have outperformed Bitcoin in the last 90 days, indicating the end of the altcoin season
Top 50 Altcoins’ Performance. Source: Blockchaincenter

This data suggests that the altcoin season may have ended prematurely this time.

When Can We Expect the Next Altcoin Season? ⌛

Predicting the timing of the next altcoin season is challenging due to the crypto market’s volatility and external factors from macro-financial markets.

  • Historical patterns suggest that altseasons occur every six to eight months
  • The most recent altcoin season began in January, and if the pattern continues, the next one could be expected around February 2025
Altseason Indicator. Source: Blockchaincenter

Investors should remain vigilant of broader market trends and signals from macro-financial markets.

Hot Take: The Curtain Falls on Altcoin Season 🎭

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The changing market conditions are not conducive to an altcoin season as Bitcoin continues to dominate. Stay informed and watch for potential shifts in the market that could signal the start of a new altcoin season in the future.

Crypto readers: Altcoin season cut short 😢 Find out why!
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Bernard Nicolai emerges as a beacon of wisdom, seamlessly harmonizing the roles of crypto analyst, dedicated researcher, and editorial virtuoso. Within the labyrinth of digital assets, Bernard’s insights echo like a resonant chord, touching the minds of seekers with diverse curiosities. His talent for deciphering the most intricate strands of crypto intricacies seamlessly aligns with his editorial finesse, transforming complexity into a captivating narrative of comprehension. Guiding both seasoned adventurers and inquisitive newcomers, Bernard’s insights forge a compass for informed decision-making within the ever-evolving tapestry of cryptocurrencies. With the artistry of a wordsmith, they craft a narrative that enriches the evolving chronicle of the crypto cosmos.