Recent analyses of the cryptocurrency market show signs of a potential altseason. Currently, around 75% of altcoins are at resistance levels, which could define the market's future dynamics.
Current Situation in the Crypto Market
The cryptocurrency market is experiencing some changes. Bitcoin recently fell by 4.7% from its all-time high, dipping below $117,000. However, its market dominance decreased by 8.5%, opening opportunities for altcoins. Ethereum, on the other hand, shows significant growth, increasing by over 60% in the last 30 days, reaching an 11.8% dominance mark.
Altseason Indicators
Analysts discuss characteristic signs of an altseason. According to analytical information, weak altseasons manifest when Bitcoin is strong, characterized by short bursts and limited rotation. Currently, a capital rotation is observed, which may indicate the possible beginning of an altseason. Analyst 'Mister Crypto' noted that the altseason index reached 51, signaling a potential shift towards more active growth of altcoins.
Market Outlook
Today, all crypto assets are showing declines, with total market capitalization falling to $3.95 trillion. Despite this, Solana demonstrated a 5% gain, reaching $200, while other assets are cooling off from recent highs. Nevertheless, the Bull market peak indicators show that there are still no signs of reaching the peak of the bull market.
Overall, the current changes in the market suggest that an altseason may be on the horizon, with a potential increase in interest in altcoins. However, market conditions remain unstable and require careful monitoring.
