$BTC According to analysts, the cryptocurrency market may be on the brink of a new altcoin season. Over the last 24 hours, Bitcoin's dominance in the market has fallen by 2%, while the prices of many altcoins have risen.
Ethereum has begun to rise against Bitcoin, which often signals that tokens are about to outperform it. If Bitcoin's dominance drops further, more than in 2021 to 40%, the market may show even greater growth in altcoins.
The main factor behind this growth is the global money supply M2, which tracks the total amount of money circulating in the economy. Historical patterns show a strong correlation between this indicator and movements in the cryptocurrency market. As more money flows into the system, especially from countries like China, the UK, and the EU, crypto assets absorb some of these funds.
