#AltcoinSeasonLoading Altcoin season might be on the horizon, according to recent market trends and analyst predictions. Here are some key points to consider ¹ ² ³:

- *Bitcoin Dominance*: Bitcoin's dominance has faced key resistance levels, potentially signaling a shift toward altcoins. Analysts like Crypto Elites and Raoul Pal suggest that Bitcoin dominance might have peaked, paving the way for altcoin momentum.

- *Altcoin Performance*: Altcoins have underperformed relative to Bitcoin in the current market cycle. However, recent price movements indicate a potential reversal. Ethereum's 20% surge in the last 24 hours has fueled optimism across the altcoin market.

- *Market Sentiment*: The global CoinMarketCap Altcoin Season Index remains low, indicating that altcoin season is still in its early stages. Analysts like Miles Deutscher urge caution, acknowledging opportunities in oversold altcoins but not necessarily predicting a full-blown alt season.

- *Predictions*: Some analysts forecast significant gains for altcoins, with potential 50x returns. Others, like Arthur Hayes, suggest that altcoin season may not commence until Bitcoin reaches new all-time highs.

*Key Altcoin Metrics:*

- *Altcoin Market Cap*: The altcoin market cap chart shows a completed five-wave decline and breakout from a descending wedge, potentially reaching $1.25 trillion in resistance.

- *Trading Volumes*: Ethereum's on-chain engagement showed increased user activity, with 1.15 million transactions recorded on May 4, representing a 12% rise compared to the previous week.

- *Top Altcoin Performers*: XRP, Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) gained between 7-12% recently, sparking discussions around the start of a new altcoin season.