As reported by BlockBeats, on May 15, Bitcoin’s market dominance rate dropped significantly, sparking hopes for an altcoin season. Alphractal CEO Joao Wedson expects June to usher in a full-blown altcoin season.
Bitcoin dominance fell from about 65% to 62%, ending a five-month uptrend. The total crypto market capitalization increased from $2.9 trillion to $3.24 trillion.
Wedson pointed out that the altcoin season has begun as investors’ interest has shifted to alternative coins, and Bitcoin’s dominance rate will decline rapidly in the coming months. Its altcoin season index shows that 37 out of 57 altcoins outperformed BTC.
Wedson said on X that most altcoins have bottomed out and are unlikely to fall below recent prices. Part of Bitcoin's market value may flow into altcoins, and it is recommended to analyze the trading pairs of altcoins against BTC.
However, CoinMarketCap’s altcoin index remains stuck at 27, indicating that the bull run has yet to extend beyond BTC.
