- BTC.D has declined by 2.24%, as an investor predicted a new altcoin season.
- 75% of altcoins have outperformed Bitcoin over the past 90 days.
Over the past month, Bitcoin’s [BTC] dominance [BTC.D] has experienced sustained rejection at $58 resistance level.
The constant failure to break out of this stubborn resistance level has brought increased enthusiasm among altcoin holders.
Bitcoin dominance was at 56.71 at press time after seeing a 0.03% decrease over the past day. This is a sharp decline from 58% witnessed a week ago.
As such, its market cap stood at $1.24 trillion, while the total crypto market was at $2.18 trillion.
Source: CoinCodex
Therefore, this decline leaves BTC taking 1.55% of the global assets, which is way below 2.75% of the total crypto assets.
Historically, the BTC.D decline is good news for altcoins, as they tend to surge. Thus, the current trend has left analysts deliberating over BTC and altcoin’s future trajectory.
Inasmuch, Johncy Crypto has suggested a potential altcoin season, citing the formation of a rising wedge pattern.
What BTC.D’s decline means for altcoins
In his analysis, Johncy posited that Bitcoin dominance was forming a rising wedge pattern on weekly charts, which is a bearish signal.
Source: X
Therefore, a breakdown from this channel will confirm a bearish outlook for the crypto.
As such, if BTC remains trading sideways as it has down over the past week, or bullish while dominance declines, this may signal altcoin’s season.
What this means is that if Bitcoin dominance continues to decline, altcoins will gain more market share, thus positioning altcoins to outperform BTC.
However, one of the best ways to determine altcoin’s performance against BTC is using ETH/BTC ratio.
Source: Coinmarketcap
As such, ETH/BTC shows a 2.40% decrease over the past 24 hours. However, overall, ETH has outperformed BTC. In fact, it has surged by 6.28% against BTC over the past 30 days.
This suggests improved performance by altcoins against BTC on monthly charts, as dominance has dropped from 58% to 56. 71.
Source: CoinMarketCap
Equally, memecoins have made a strong bounce, rising in market cap from $43.7 billion to $50.9 billion on weekly charts.
Source: Blockchain Center
Additionally, various altcoins have outperformed Bitcoin over the past three months. Notably, Sui [SUI] is leading by 183.5%, Bittensor [TAO] by 136.1%, Aave [AAVE] by 61%, and dogwifhat [WIF] by 56.4%.
Therefore, 75% of the Top 50 coins performed better than Bitcoin over the last 90 days.
Source: Blockchain Center
Finally, at press time, the Altcoin season index was at 37, a rise from 33 over the past week and a decline from a high of 47 reached 15 days ago while the BTC season index was at 25.
Read Bitcoin’s [BTC] Price Prediction 2024–2025
Such a scenario indicates increased demand for altcoins among investors compared to Bitcoin.
Simply put, the altcoin season is slowly gaining momentum and the potential for an upside continues to rise.
- BTC.D has declined by 2.24%, as an investor predicted a new altcoin season.
- 75% of altcoins have outperformed Bitcoin over the past 90 days.
Over the past month, Bitcoin’s [BTC] dominance [BTC.D] has experienced sustained rejection at $58 resistance level.
The constant failure to break out of this stubborn resistance level has brought increased enthusiasm among altcoin holders.
Bitcoin dominance was at 56.71 at press time after seeing a 0.03% decrease over the past day. This is a sharp decline from 58% witnessed a week ago.
As such, its market cap stood at $1.24 trillion, while the total crypto market was at $2.18 trillion.
Source: CoinCodex
Therefore, this decline leaves BTC taking 1.55% of the global assets, which is way below 2.75% of the total crypto assets.
Historically, the BTC.D decline is good news for altcoins, as they tend to surge. Thus, the current trend has left analysts deliberating over BTC and altcoin’s future trajectory.
Inasmuch, Johncy Crypto has suggested a potential altcoin season, citing the formation of a rising wedge pattern.
What BTC.D’s decline means for altcoins
In his analysis, Johncy posited that Bitcoin dominance was forming a rising wedge pattern on weekly charts, which is a bearish signal.
Source: X
Therefore, a breakdown from this channel will confirm a bearish outlook for the crypto.
As such, if BTC remains trading sideways as it has down over the past week, or bullish while dominance declines, this may signal altcoin’s season.
What this means is that if Bitcoin dominance continues to decline, altcoins will gain more market share, thus positioning altcoins to outperform BTC.
However, one of the best ways to determine altcoin’s performance against BTC is using ETH/BTC ratio.
Source: Coinmarketcap
As such, ETH/BTC shows a 2.40% decrease over the past 24 hours. However, overall, ETH has outperformed BTC. In fact, it has surged by 6.28% against BTC over the past 30 days.
This suggests improved performance by altcoins against BTC on monthly charts, as dominance has dropped from 58% to 56. 71.
Source: CoinMarketCap
Equally, memecoins have made a strong bounce, rising in market cap from $43.7 billion to $50.9 billion on weekly charts.
Source: Blockchain Center
Additionally, various altcoins have outperformed Bitcoin over the past three months. Notably, Sui [SUI] is leading by 183.5%, Bittensor [TAO] by 136.1%, Aave [AAVE] by 61%, and dogwifhat [WIF] by 56.4%.
Therefore, 75% of the Top 50 coins performed better than Bitcoin over the last 90 days.
Source: Blockchain Center
Finally, at press time, the Altcoin season index was at 37, a rise from 33 over the past week and a decline from a high of 47 reached 15 days ago while the BTC season index was at 25.
Read Bitcoin’s [BTC] Price Prediction 2024–2025
Such a scenario indicates increased demand for altcoins among investors compared to Bitcoin.
Simply put, the altcoin season is slowly gaining momentum and the potential for an upside continues to rise.
Greetings! Very helpful advice on this article! It is the little changes that make the biggest changes. Thanks a lot for sharing!
You made some decent points there. I did a search on the subject matter and found most guys will agree with your website.
I went over this web site and I believe you have a lot of great information, saved to bookmarks (:.
Yay google is my world beater helped me to find this outstanding site! .
buy clomiphene price order generic clomiphene without insurance can i get cheap clomid buy clomiphene without dr prescription can you get generic clomiphene online can i buy generic clomiphene pill can i purchase cheap clomid online
The thoroughness in this piece is noteworthy.
This is the compassionate of scribble literary works I in fact appreciate.
buy generic azithromycin – ciprofloxacin 500 mg ca metronidazole usa
rybelsus 14mg tablet – order cyproheptadine for sale order cyproheptadine online
order motilium 10mg for sale – generic domperidone flexeril 15mg pills
order amoxil online – combivent 100 mcg uk ipratropium 100 mcg usa
how to buy clavulanate – https://atbioinfo.com/ buy generic acillin online
buy esomeprazole generic – anexamate.com nexium 20mg drug
coumadin 5mg uk – anticoagulant purchase losartan online
buy mobic 15mg sale – relieve pain mobic cheap
The subsequent time I read a weblog, I hope that it doesnt disappoint me as much as this one. I mean, I know it was my option to learn, but I truly thought youd have something fascinating to say. All I hear is a bunch of whining about one thing that you would repair if you werent too busy on the lookout for attention.
prednisone 40mg sale – corticosteroid prednisone 10mg price
where can i buy ed pills – buy generic ed pills online buy cheap generic ed pills
buy amoxicillin without prescription – https://combamoxi.com/ cost amoxicillin
buy fluconazole 200mg pill – https://gpdifluca.com/# purchase forcan generic
order escitalopram without prescription – escitapro.com order escitalopram 20mg pills
buy cheap cenforce – cenforce rs buy cenforce 100mg generic