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#Altcoin Season Coming?# Altcoin season might be on the horizon, according to recent market trends. Here are some key indicators to watch¹ ²:
- *Bitcoin Dominance*: Bitcoin's dominance has dropped to 60.64%, indicating a potential shift in market sentiment towards altcoins. Historically, when Bitcoin dominance dips below 60%, altcoins tend to outperform significantly.
- *Altcoin Season Index*: The index has risen to 41, up from 11-12 in June, signaling growing strength in altcoins. However, it still hasn't reached the threshold of 75, which confirms a full-blown altcoin season.
- *Market Trends*: Ethereum, XRP, and Solana are showing solid gains, with Ethereum's ETF inflows and network upgrades contributing to its growth. Other altcoins like Sui are also gaining traction due to strong DeFi growth and institutional participation.
Some potential signs to look out for in the coming weeks:
- *BTC Dominance below 60%*: A further decline in Bitcoin's dominance could trigger a significant surge in altcoin prices.
- *Altcoin Season Index above 70-75*: If the index reaches this threshold, it may confirm the start of an altcoin season.
- *Rising Total Altcoin Market Cap*: An increase in the total market capitalization of altcoins could indicate a shift in investor sentiment towards alternative cryptocurrencies.
Keep in mind that altcoin seasons are often characterized by heightened volatility and trading activity, presenting both opportunities and risks for investors.