$BTC Is Altcoin Season Here? Bitcoin Reaches Major Rejection Zone

The expert said Bitcoin's dominance might reach a big rejection zone, which could boost altcoins.

As dominance hits major rejection zone, altcoin season may be coming.

He said BTC's dominance again reached a zone that had rejected it consistently for 1.5 years. He said that the Stochastic Relative Strength Index (RSI) is overbought and has crossed bearishly again.

Based on this, the expert predicted an altcoin season. CryptoElites also said Bitcoin's dominance had peaked. He said that a major cryptocurrency rise will start alt season.

The crypto analyst mentioned USDT and USDC domination in another X article. He said the market was at a key trend response stage. CryptoElites said altcoin season would begin if stablecoins lose supremacy.

Altcoins have followed Bitcoin's fall throughout the trade war. But once altcoin season gets going, these currencies might easily outperform the main crypto. Ethereum usually leads altcoin season, but it has underperformed this cycle.

Blockchain Center research reveals that Bitcoin is still winning over most cryptocurrencies. In the previous 90 days, just seven of the top 50 cryptocurrencies outperformed the flagship crypto.

Altcoin season begins when 75% of the top 50 currencies outperform Bitcoin over 90 days. Most currencies have declined within this span, however BTC has dropped 22% less than these altcoins.

Bitcoin is now selling at $80,900, down over 1% in 24 hours, according to CoinMarketCap.