Cryptocurrency analyst Miles Deutscher claimed that the altcoin season has begun, based on data from an artificial intelligence model and a custom dashboard.
Overview of Current Altcoin Market Situation
In his YouTube video, Deutscher noted that the current market situation signals a positive period for altcoins, with approximately 70% of the top 50 altcoins outperforming Bitcoin on a monthly basis.
Reasons for Market Dynamics Change
Deutscher suggested that Bitcoin's dominance falling below a key support level for the first time since November 2024 has led to a shift in market momentum, primarily driven by growing positive sentiment toward Ethereum.
Analysis and Forecasts for Ethereum
The analyst highlighted that ETH ETFs, new regulatory frameworks, and institutional interest are boosting Ethereum, which may provide the necessary "firepower" for a broader altcoin market rally. He also mentioned studying charts against ETH to track the performance of altcoins.
Thus, analyst Miles Deutscher emphasizes the beginning of a new phase in altcoin movement supported by Ethereum's positive dynamics, possibly indicating the scale of a new rally.
