Bitcoin has been leading the crypto market for months, but that might be about to change. Traders are now starting to pay attention to altcoins again, with many thinking that a new altcoin season could be starting soon.
A popular crypto trader known as Bitcoinsensus pointed out that Bitcoin just broke below an important trendline that held up for five months. This move, he says, could open the door for altcoins to shine once again.
Bitcoinsensus, known for tracking big-picture market trends, recently highlighted a breakdown in Bitcoin dominance, something that hasn’t happened in the last five months.
According to their chart, BTC dominance broke below a long-term support line, a technical signal that often marks the beginning of major market shifts. The trader compared the current situation to what happened in late 2024, when BTC dominance dropped sharply and altcoins rallied hard.
Back then, it triggered a “mini altseason,” where Ethereum, Solana, and other smaller tokens outperformed Bitcoin.
Now, with Bitcoin dominance dropped to 61.3%, down from nearly 65% the week before, many believe history might repeat itself.
Meanwhile, this decline has caught the attention of industry leaders. Tracy Jin, the COO of MEXC, called it one of the first major signs of an upcoming altcoin run. At the same time, crypto investors seem to be pulling out of stablecoins, moving funds into riskier assets like ETH and other altcoins.
Ethereum (ETH), often seen as the leader among altcoins, is already showing serious momentum. Since the beginning of this week, ETH jumped nearly 20% in a single day. Over the past week, it’s surged more than 52%, climbing from $1,772 to $2,644.
This kind of rally isn’t just about price, it reflects a change in trader mindset. As people are becoming more confident in taking risks again, altcoins are starting to benefit.
While it’s too early to say if a full-blown altseason is here, as the altcoin season index hints different picture, as it is currently standing at 24, reflecting more of a bitcoin.
A decline in Bitcoin dominance, where altcoins’ market share increases, often signals the start as investors seek higher growth potential.
It measures altcoins’ performance against Bitcoin over 90 days. A score above 75 suggests an “altseason.” Currently, it’s low, around 24-27.
Bitcoin dominance is BTC’s market share. A drop suggests altcoins may outperform Bitcoin, signaling a potential “altseason.”
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