Altcoin Season Incoming? Bitcoin Dominance Drops Below Key Support

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Bitcoin dominance is weakening, and traders are watching closely. This shift has sparked talk of a new altcoin season, with analysts expecting capital to rotate from Bitcoin into major altcoins. As BTC.D falls below a key support level, many believe the market is entering a new phase.

Altcoin Season Signals? Bitcoin Dominance Slips Below 63.98%

At the beginning of this month, the total market cap of the cryptocurrency market was $2.63 trillion. In the initial days of the month, the market experienced extreme volatility. Between April 5 and 7, the market plummeted by 9.8%, dropping to a monthly low of $2.31 trillion. From April 9 to 12, the market climbed by over 11.71%. As of now, the total market cap is at $2.65 trillion, down 5.2% from the monthly peak.

The altcoin market has followed a similar pattern. Starting the month at $991.26 billion, it dipped to $831.83 billion by April 7. Between April 9 and 12, the market rebounded by 11.6%. Currently, the altcoin market cap sits at $958.43 billion—around 7.8% below its April peak.

The four-hour BTC.D chart shows that April 7’s peak of 63.98% acted as strong resistance. On April 16, Bitcoin dominance broke above it, only to fall back below it today. Now, it sits at 63.83%. If the trend continues, dominance could test the monthly low of 63.16%, further fueling altcoin optimism.

Bitcoin Market Dominance

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Top Altcoins Surge

 Crypto analyst Crypto Rover shared on X that we may see sharp capital inflows into altcoins soon. Since April 16, the altcoin market has grown by 1.99%. Interestingly, when Bitcoin dropped from $84,936.62 to $84,479.38, the alt market climbed from $947.58 billion to $948.94 billion.

Top altcoins are already showing strength:

Ethereum (ETH) up 0.85%

XRP up 0.6%

BNB up 0.7%

Solana (SOL) up 2.7%

Dogecoin (DOGE) up 2.1%

Cardano (ADA) up 2.1%

As Bitcoin dominance continues to decline, market analysts anticipate a rotation of capital into altcoins. If momentum holds, this could mark the beginning of a strong altcoin season. With top altcoins already gaining, the market is now watching to see if this breakout will sustain.