Following the 2024 halving, Bitcoin surged past $100,000, leaving altcoins struggling to match its pace.
Altcoin Dominance Hits a Four-Year Low
The total dominance of the altcoin market has been on a downward trend since the beginning of 2024, reaching levels not seen since June 2023, marking four-year lows. While memecoin projects continue to attract significant liquidity from the market, major altcoin projects are facing challenges.
Will Altcoin Season Extend to 2026?
Excluding Ethereum (ETH), the total market value of cryptocurrencies has been severely impacted by recent liquidations, attempting to stabilize around $850 billion. This level is currently viewed as a critical support point. In contrast, the total market value including Ethereum appears weaker, with altcoins not yet signaling a strong recovery.
Analysts' Predictions for Altcoin Market
Popular analyst Moustache asserts that the altcoin season is not canceled. He believes that the total market value, excluding BTC, continues to hold above an important trend line. If this support is maintained, Moustache predicts that altcoins will recover and potentially witness an even stronger rise than during the 2014-2018 altcoin season.
While Bitcoin continues to set records, the altcoin market struggles to recover. However, analysts maintain cautious optimism regarding the future prospects of altcoins.
