#CryptoStocks Analysts have announced the start of the altcoin season, noting a deviation from the usual cyclical lows,
Over the past 24 hours, Bitcoin has been stable near the $105,000 level, while Ethereum is also hovering around $2,500,
Altcoins like Solana and Dogecoin have not yet shown an initial positive trend,
However, a well-known crypto analyst “Prometheus” has stated in his analysis on social media platform X that altcoin investors are currently close to making unexpected profits due to the market cycle,
“Prometheus”
has based its prediction on the $TOTAL3ESBTC chart, which measures the total altcoin market cap relative to Bitcoin, excluding stablecoins.
This chart has seen a clear deviation below the cyclical low range every time in past market cycles, when Bitcoin was entering a new phase of price discovery,
These deviations are consistent with periods of Bitcoin absorbing market liquidity and outperforming the rest of the market,
This was followed by a rapid return on investment in the altcoin market, known as a “money printer,” which caused altcoin prices to rise sharply. A similar divergence is being seen in the current cycle,
Bitcoin's market dominance is increasing and prices are moving up, but a divergence below the cyclical low range is occurring again,
According to the analyst, Bitcoin is still absorbing liquidity but will soon enter a “money printer” phase, which is a sign of an altcoin-led breakout, especially when Bitcoin cools down a bit.
The important thing is that many traders have the misconception that altcoins will also rise as Bitcoin rises, but that is not necessarily the case in this cycle,
According to the analyst, the signal of altcoin season usually comes after a strong phase in Bitcoin price when Bitcoin shows a temporary resistance or decline,
During this time, liquidity shifts from Bitcoin to altcoins, causing a short but intense rally,
The analyst added that “those who have invested in altcoins will soon make profits that they cannot imagine, but only a small percentage will be able to make a profit.”
"Bitcoin is currently worth around $104,730 and has a market dominance of 64.0%, up 1.18% in the last 24 hours,"
The overall crypto market cap, excluding Bitcoin, is around $1.13 trillion....
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Sir, this post is not financial advice. If you want to invest in the crypto market, do your research first and then make a purchase. 😊