Buckle up: Altseason can ignite at any moment; Here’s why
The cryptocurrency market attention is now turning to altcoins after a massive surge of the leader Bitcoin (BTC). This shift could ignite what traders usually call an altseason, with altcoins outperforming BTC. So far, Bitcoin has increased its dominance over the other cryptocurrencies. However, the Bitcoin Dominance (BTC.D) index peaked at 55.35% and turned to the downside, at 53.42%, by press time. Bitcoin Dominance Index (BTC.D), 4-hour chart. Source: TradingView Previously, BTC.D reaching new highs and retracing has signaled the start of altseasons. This happens because capital first flows to Bitcoin in bull markets. Consequently, traders then turn part of their profits into altcoins, boosting their highly volatile market caps. The altcoin’s market cap index highlights this capital outflow and inflow and is often used as a valuable indicator to spot altseason ignite s. Altseason: Altcoin total market cap breaks out accumulation phase Cryptocurrency Machine lea...