The recent performance of altcoins has led experts to predict that the next altcoin season may be closer than expected. With 15 out of the top 50 altcoins (not including BTC) outperforming Bitcoin over the past 90 days, the assumption is that the season could begin soon. However, for the season to truly kick off, at least 75% of the top fifty altcoins need to outperform.
Currently, stablecoins are not considered altcoins in this assessment. Some of the top performing altcoins are Sui (SUI), Fantom (FTM), Uniswap (UNI), and Dogecoin (DOGE). An important factor to consider is Bitcoin’s dominance in the market. When Bitcoin’s dominance was at its highest during Donald Trump’s presidency, it reached a peak of 60.61%.
However, at the time of writing this article, the dominance is slightly below 60%. Typically, a decrease in Bitcoin’s dominance signals the start of an altcoin season. Recently, TOTAL2’s daily chart broke out of a descending triangle, signaling that the next altcoin season might be around the corner.
If this happens, TOTAL2 could rise above the $1 trillion market cap. However, if the value falls below the support level, the trend might not be fulfilled. As the market continues to evolve, investors should pay attention to Bitcoin’s dominance and the performance of altcoins. With the right conditions in place, the next altcoin season may bring significant opportunities for investors.
