Has Altcoin Season Finally Started? | Credit: Hameem Sarwar
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Key Takeaways
The Bitcoin Dominance (BTCD) fell over the past two days.
Altcoins outperformed Bitcoin (BTC) during this time.
Will this performance continue, leading to an Altcoin Season?
The crypto market has rallied since April, leading to a new Bitcoin (BTC) all-time high in May. However, altcoins have lagged considerably, most failing to approach their previous highs.
Nevertheless, the BTCD and altcoin movement this week is promising, opening the door to the start of a period of altcoin dominance. Let’s analyze some charts and see if an altcoin season will occur in 2025.
While the speed of the decline suggested the long-term trend was bearish, BTCD increased afterward and reached a new cycle high of 65.95% on June 22.
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Technical indicators are bearish. The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) have generated bearish divergences.
The deviation will be confirmed if BTCD breaks down from its ascending support trend line. If that happens, new lows below 61% will likely mark the start of the altcoin season.
Why is Crypto Up Today?
The Altcoin Market Cap (ALTCAP) shows decisive bullish signs, pointing to an imminent rally.
The wave count shows a completed five-wave upward movement (green) and the ensuing W-X-Y correction (red).
ALTCAP’s correction ended at the 0.618 Fibonacci level, and waves W and Y were the same length.
If accurate, ALTCAP has completed its correction and started a new upward movement.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
