Altcoin Season Not Remotely Close, Bitcoin Dominance Still Too High: Market Expert Says
Summary
The crypto market remains bearish, delaying the anticipated altcoin season. Analyst Stockmoney Lizards asserts that an altcoin season is not imminent, citing strong Bitcoin dominance as a key factor. Despite a slight 2% decline in Bitcoin dominance, it remains above 65%, historically a high level that precedes altcoin seasons only when dominance falls to around 40%. Current altcoin dominance has dropped to levels not seen since 2021, with Ethereum's dominance at a five-year low of 8%. The altcoin dominance, excluding Ethereum, is at 26%, similar to levels before previous altcoin runs. A significant decline in Bitcoin dominance is necessary for a sustainable altcoin season, as evidenced by trends from 2017 and 2021.
