1. OTHERS Index Above EMA-100 and EMA-200
2. Potential Decline in Bitcoin Dominance to 40%
3. ETH/BTC Ratio Decline

The altcoin market is currently showing significant growth, which may indicate an upcoming altseason. Here are the latest data on the current trends in the altcoin market.

OTHERS Index Above EMA-100 and EMA-200

Currently, the OTHERS index is above the EMA-100 ($213.981 billion) and EMA-200 ($221.980 billion) on the daily timeframe. This can be considered a bullish signal for crypto assets within this index. The OTHERS index measures the market capitalization of various crypto assets excluding Bitcoin and Ethereum, showing how the altcoin market is performing overall. When the price or index is above the EMA-100 and EMA-200, it indicates an upward price momentum. The last time this was observed was in July 2023, when the index reached $367.720 billion. As of this writing, the OTHERS index stands at approximately $232.840 billion.

Potential Decline in Bitcoin Dominance to 40%

Despite the growth in the altcoin market capitalization, altseason still awaits a significant decline in Bitcoin Dominance (BTC.D). Currently, Bitcoin dominance stands at around 57.5%. Analyst Yoddha believes that Bitcoin dominance could drop to the 40% level, which may open opportunities for a major altseason. A decline in Bitcoin dominance usually indicates that investors are starting to look for higher returns among altcoins, which often have smaller market capitalizations and higher volatility.

ETH/BTC Ratio Decline

The state of the altcoin market and the approach of altseason will also depend on the performance of ETH relative to BTC. On the weekly timeframe, the ETH/BTC ratio stands at around 0.04065, which was previously reached in April 2021. If the ratio continues to decline, it may signify upcoming shifts in investor preferences.

Thus, the altcoin market continues to show positive dynamics, which may signal the arrival of altseason with further decline in Bitcoin dominance and shifts in the ETH/BTC ratio.