Is Altcoin Season Approaching? Ethereum Outperforms Bitcoin
In recent weeks, the cryptocurrency market has shown some interesting shifts. Ethereum, in particular, has demonstrated significant strength, while Bitcoin’s dominance appears to be weakening — raising the possibility of an upcoming altcoin season.
Ethereum Gains Momentum
Over the past 90 days, Ethereum (ETH) has surged by approximately 48%, while Bitcoin (BTC) has recorded a 31% gain during the same period. This week alone, ETH has climbed more than 7% against BTC.
From a technical perspective, the ETH/BTC pair is showing bullish signals. The MACD indicator has turned positive, and the RSI suggests there’s still room for further upward movement.
Bitcoin Dominance Continues to Decline
Typically, when Bitcoin Dominance exceeds 50%, the market is said to be in a "Bitcoin Season." Currently, Bitcoin’s dominance stands around 64% but has been gradually retreating. A further drop below 60% could strongly signal the arrival of an altcoin season.
Altcoin Season Index Shows Growing Potential
The CoinMarketCap Altcoin Season Index has also been on the rise. The index currently sits at 32, up from 17 last month. When the index crosses above 75, it officially marks the beginning of an altcoin season. The recent increase suggests that altcoins are beginning to attract more investor attention.
Market Outlook
Bullish Scenario: If Ethereum can hold above the $2,746 level, the next potential target could be around $3,525.
Bearish Scenario: A break below $2,746 may lead to a correction towards $2,470.
A Word of Caution
As always, the crypto market remains highly volatile and unpredictable. Investors are strongly advised to conduct thorough research and consider their risk tolerance before making any investment decisions. This article is for informational purposes only and does not constitute financial advice.
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