The behavior of Altcoins is completely altered.
In moments when the price of Bitcoin skyrockets, approaches its ATH or previous local top, and consolidates for a few days, it was common to see altcoins gaining ground, gradually decreasing dominance and approaching their peaks.
This is not happening at this moment in the market. I believe this is largely due to the ongoing risk aversion from the market, whether from institutional investors or retail.
If we observe the last few days, after an interesting price rally, Bitcoin has remained in a price range between $102,500 and $104,000, while altcoins have given back a good portion of the gains they had last week.
Does this threaten altseason? As long as interest rates remain high, yes.
Even with an improvement in market sentiment with the "end of the trade war" (or its truce), it is clear that risk aversion - due to the FED's monetary policy - is still present, albeit slightly less than in recent months.
$BTC remains strong, despite the decrease in its dominance, as it is an interesting asset on a global level, but altcoins will only take off - more than they did in November and December 2024 - when we have a stronger signal from the market in favor of risk, and this will be realized with the FED's polarity reversal.
