Crypto analyst Titan of Crypto has highlighted a bearish pattern on Bitcoin’s dominance chart, suggesting that altcoin season might be on the horizon. The analyst expects significant moves from altcoins, which have experienced declines recently.
Bitcoin Dominance Chart Forms Bearish Pattern
Titan of Crypto noted in a post that the confirmed breakout on Bitcoin’s dominance chart indicates a potential decline, which could allow altcoins to recover after recent corrections. A drop in Bitcoin’s dominance is typically bullish for altcoins, potentially signalling an upcoming altcoin season.
Data from the Blockchain Center suggests that altcoin season might be near, as more altcoins have been outperforming Bitcoin. This season is confirmed when 75% of the top 50 coins by market cap outperform Bitcoin over 90 days.
Potential Catalysts for Altcoin Season
Experts like Michaël van de Poppe believe the launch of Spot Ethereum ETFs could spark a significant rally for Ethereum (ETH) and other altcoins. Titan of Crypto also predicted ETH’s increasing dominance against BTC could lead to a surge in altcoins.
“Face-Melting” Altcoin Season Predicted
Crypto analyst Lark Davis claimed that a “face-melting” altcoin season is on the way, urging patience. Another analyst, Mikybull Crypto, suggested that the altcoin market correction is ending and a significant markup phase is coming.
However, Andrew Kang warned that many altcoins might have peaked in this cycle, advising investors to be selective in their investments.
