Signs of Altseason Emerge as Capital Rotation Begins: Expert Opinions

Swissblock reports that about 75% of altcoins are at resistance, a point where so-called 'altseasons' either start or fail. They suggest that weak altseasons correspond with a strong Bitcoin presence and feature short bursts and limited rotation. Conversely, strong altseasons require significant capital flow, a drop in Bitcoin dominance, and a broad breakout of altcoins.

Analysts have noted a decrease in Bitcoin's dominance and an increase in Ethereum's, indicating a possible shift towards an altseason. Bitcoin has dipped below $117,000, while Ethereum has surged by 37% since late June. Additionally, indicators show no signs of a peak in the bull market. However, overall market capitalization has fallen, with Bitcoin and Ethereum experiencing slight declines. Only Solana bucks the trend with a 5% gain.