The Bitcoin Dominance rate (BTC) has dropped in particular this month, arousing hopes for a full-fledged season or period of ALT where the Haussier market spreads beyond the BTC, raising assessments in other sectors of the digital asset market.
Joao Wedson, CEO and founder of the Crypto Alphractal data analysis platform, expects a full-fledged Alt season to take place in June.
The Bitcoin dominance rate, which measures the share of the cryptocurrency of the total digital assets market, increased from around 65% to 62% in a week, ending an upward five-month trend, according to Data Source TradingView.
At the same time, the total market capitalization of cryptography increased from 2.90 billions to 3.24 billions of dollars.
The contrast suggests a change in interest from bitcoin investors to alternative cryptocurrencies.
According to Wenson, the Altcoin season is already underway and the domination of the BTC should decrease quickly in the coming months. The owner of the Wedson Altcoin season, which focuses on 57 altcoins, shows that 37 of these parts have surpassed the BTC in the last 60 days.
“Even if BTC decreases in the coming weeks, most Altcoins have already made eyes, and it is unlikely that they do not fall below recent price levels. Part of the market capitalization of 2 bitcoin billions is likely to flow in Altcoins. Make sure to analyze your Altcoin against BTC pairs (EG, ETH / BTC or COTI / BTC),” declared Wedson on a detailed post on X.
However, wider measures suggest that the bullish market has not yet extended beyond the BTC. For example, the Altcoin CoinmarketCap index, which focuses on the 100 best pieces, remains blocked at 27 to suggest the “bitcoin season”.
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