Overview

Altcoin season has been largely overshadowed this year by Bitcoin’s gradual increase, but new insights indicate that altcoins may soon regain their momentum.

On-chain analytics by Alphractal suggests that crucial metrics of altcoin dominance are holding at key historical support levels that often precede major price movements. Altcoin dominance is currently at 27.91%, hinting at a possible rally ahead.

Possible Resurgence in Altcoin Season

“Something big is about to happen with altcoins,” Alphractal recently announced, suggesting that the current metrics indicate an imminent surge. Historically, altcoin dominance has rallied past the 25% threshold, pointing towards the possibility of renewed altcoin interest in the coming months.

Is There a Future for Altcoins?

Despite the optimism, some analysts argue that many altcoins from the past crypto boom have lost their viability, often seen merely as speculative investments. Notable surging tokens have been drastically fewer, with many entering a plateau.

Current Market Dynamics

Recent tensions, particularly the Israel-Iran conflict, resulted in Bitcoin dropping from $107K to $102K in one day, incurring substantial market total liquidation. However, institutional investments surged in response to retail panic, showcasing ongoing interest in cryptocurrency.

Analysts are particularly paying attention to gold, which recently hit a high of $3,445 due to the crisis, with many traders awaiting its approach towards an all-time high of $3,500.

In conclusion, the crypto landscape remains highly volatile with various factors playing a role in future outcomes.