Bitcoin Dominance Hits 64% – Could Another Altcoin Season Be Brewing?

Bitcoin dominance has reached 64%, a level not seen in over four years. This surge has sparked speculation about another potential altcoin season similar to the one witnessed in 2021. Analysts point to Solana’s strong performance as a key indicator of this shift, with investors actively allocating capital towards alternative cryptocurrencies. However, technical signals suggest Bitcoin’s momentum might be waning, creating an opening for altcoins. A potential market rotation is brewing, mirroring the dynamics observed in 2021, when Bitcoin dominance peaked and altcoins experienced a surge. The Altcoin Market Index has shown early signs of this shift, bouncing from 13 to 20 within days, raising questions about whether history will repeat itself. While Bitcoin’s dominance remains strong for now, a pullback in the RSI and subsequent inflows into alternative cryptocurrencies could signify an imminent flip. However, market participants remain cautious about predicting the timing of this anticipated shift.