Bitcoin’s grip on the crypto market appears to be loosening, and according to Joao Wedson, CEO of Alphractal, a full-scale altcoin season could arrive as early as June.
Wedson points to a notable decline in Bitcoin’s dominance — a metric that tracks BTC’s share of the total cryptocurrency market cap — which has fallen from 65% to 62% over the past week, breaking a five-month uptrend, based on TradingView data. Over the same period, the total crypto market cap rose from $2.90 trillion to $3.24 trillion, indicating growing investor appetite for alternative cryptocurrencies.
“Altseason is already unfolding,” Wedson stated in a recent post on X (formerly Twitter). “Even if Bitcoin corrects in the coming weeks, most altcoins have already bottomed out and are unlikely to revisit recent lows. A portion of Bitcoin’s $2 trillion market cap is likely to rotate into altcoins.”
Alphractal’s proprietary altcoin season index — which tracks 57 leading altcoins — shows that 37 have outperformed BTC over the past 60 days, further supporting the case for an alt-driven market surge.
Wedson advises traders to closely monitor altcoin-to-BTC pairs such as ETH/BTC or COTI/BTC to better assess relative strength and positioning.
Despite growing momentum among altcoins, some broader indicators suggest that the bull market is still largely concentrated around Bitcoin. Still, if BTC dominance continues to decline, analysts believe capital could increasingly shift toward smaller-cap digital assets, heating up the altcoin landscape in the months ahead.
