Analysts are forecasting a potential altcoin rally as Bitcoin's market dominance shows signs of weakening. The Altcoin Season Index has fallen to 27/100, indicating a possible shift in market dynamics. Experts such as CryptoELITES and Javon Marks highlight historical trends where declines in Bitcoin dominance have preceded robust altcoin seasons.
Market analyst Moustache points out that the TOTAL2 metric, which tracks the market cap of altcoins, remains above a crucial 10-year support trendline, suggesting the onset of a new bull phase. Additionally, Michael van de Poppe draws parallels to mid-2019, a period marked by a significant altcoin rally, suggesting similar conditions may be forming now.
Analysts Anticipate Altcoin Surge as Bitcoin Dominance Declines
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