The altcoin season has not officially begun, but promising signs are emerging on the market. CoinMarketCap's Altcoin Season Index currently stands at 44 out of 100, needing to reach 75 to signal the onset of the season.
Market Prospects for Altcoins
In recent months, Bitcoin's market dominance has decreased by 6%, landing at approximately 58.5%. This decline opens up opportunities for altcoins, as noted by Bitfinex analysts, who suggest that more altcoin ETF launches are needed for market growth.
Impact of ETF Approvals
According to Bitfinex's report, the approval of altcoin ETFs will be a key factor influencing the flow of institutional capital previously observed in Bitcoin and Ethereum. However, the recent SEC decision to postpone consideration of applications such as the Truth Social Bitcoin-Ethereum ETF and the 21Shares Solana ETF introduces uncertainty.
When Will Altcoin Season Start?
There is considerable disagreement among experts regarding the exact timing of altcoin season. David Duong from Coinbase Institutional Research believes that conditions may lay the groundwork for the start of the season as early as September, while Bitfinex analysts expect a later emergence. Meanwhile, market appetite remains subdued despite positive inflows.
The current situation in the altcoin market indicates high interest, but the launch of a full-fledged season requires ETF approvals. Experts continue to forecast growth, but clear timelines for its commencement remain uncertain.
