Towards an Altseason? Bitcoin Dominance is Fluctuating

Bitcoin is creating a new wave, with significant increases after the US election. But what about altcoins? These alternative cryptocurrencies, usually pushed into the background, are attracting attention again. When BTC loses its dominance, historical signals seem to indicate a potential "altcoin season". Let's decode this potential change together, adding energy for traders and disrupting the cryptocurrency market. The dominance of Bitcoin is falling freely: A never-before-seen altseason? The latest Bitcoin news, the unstoppable star of the blockchain, has shone again, recording a 9% increase in a week. However, this figure pales in comparison to the impressive 17% green candle observed five days after the election. At that time, the victory of the cryptocurrency supporters, combined with favorable regulations and organizational support, brought a new wave of optimism.

The peak dominance of Bitcoin, reaching 62% on November 21, reminds us of the glorious days of March 2021. However, this dominance is fading: within 48 hours, its market share has dropped to 59%. This retreat opens the door for altcoins, which have benefited from the rise of this giant. Elon Musk, Larry Fink, and even Donald Trump have all become influential allies, bringing legitimacy to the ecosystem. Traders are currently witnessing a noticeable shift: the rise of altcoins, also known as the "altcoin season". Key figures: Bitcoin: +9% in one week; Maximum dominance: 62%, decreased to 59%; Top altcoins: Stellar (XLM), Ripple (XRP), VeChain (VET), Polkadot (DOT). DOTUSD chart from TradingView Altseason: a turning point for cryptocurrency replacement

This important moment, widely known among traders, often occurs after a significant decline in BTC dominance. Altcoins are more than just clones: they bring innovative solutions to Web3. Secured by advanced encryption techniques, they assert their position in various fields, from decentralized storage to decentralized finance (DeFi). Therefore, experts from Hashkely Capital estimate that the $80,000 threshold for Bitcoin could be the triggering factor for this anticipated altcoin season. However, the observed delay after the US election has further complicated the issue. If BTC reaches this crucial level, it still remains to be seen whether altcoins can take advantage and attract attention or not.