Market analysts are suggesting that crypto’s famed “altseason,” characterized by smaller-capitalization cryptocurrencies surging in value, could be on the horizon.
Trader and analyst Rekt Capital noted on April 11 that the altcoin market cap has shown remarkable stability, consistently retesting the $315 billion level as support despite Bitcoin‘s recent price volatility.
Crypto traders are closely monitoring altcoin markets, anticipating higher risk-to-reward returns during the next phase of the bull market.
Historically, altcoin price appreciation has lagged behind Bitcoin. Analysts often use charts like the altcoin market capitalization and Bitcoin dominance to gauge when altcoins might enter a bull season of their own.
Bitcoin’s market dominance has remained above 50% since September 2023, currently standing at 54.5%. Analysts believe a shift in Bitcoin dominance could trigger an altseason.
Analysts are observing technical indicators like the Ichimoku cloud, suggesting that a reversal in Bitcoin dominance could signal the beginning of an altseason.
Market observers, such as analyst Kevin Svenson, are optimistic about the altcoin market, anticipating a significant bull run. Many believe that the narrative will shift towards altcoins following Bitcoin’s halving.
Despite some outliers like Toncoin hitting all-time highs, most high-cap altcoins remain significantly below their 2021 peak prices. XRP, Dogecoin, Cardano, Avalanche, Bitcoin Cash, Polkadot’s DOT, and Chainlink are among those trading well below their peak values.
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