There are signs in the cryptocurrency space indicating readiness for altcoin season, though the official conditions for its initiation have yet to be met. Analysts discuss the impact of ETFs and overall market trends.
Current Status of Altcoin Season
The Altcoin Season Index currently sits at 46 out of 100. While many altcoins are performing better than Bitcoin, the threshold of 75% is still far from reach.
The Role of ETFs in Initiating Altcoin Season
According to analysts at Bitfinex, the anticipated altcoin season will not begin until more crypto exchange-traded funds (ETFs) enter the market. Bitcoin has already lost 6% of its dominance, but broader rallying requires improved access to altcoins through regulated ETF products.
Expert Predictions and Opinions
Despite the overall caution in the market, some experts, such as David Duong from Coinbase Institutional, suggest that current conditions could lay the groundwork for an altcoin season as early as September.
As the cryptocurrency market continues to evolve, expectations for an altcoin season are becoming increasingly relevant. Approvals for new ETFs could be a decisive factor in this process.
