Popular crypto trader and analyst Rekt Capital is confident that the altcoin season, which many crypto market participants have been waiting for, is already over.
Altcoins have suffered significant losses this week amid a massive crypto market crash, while Bitcoin's market dominance has risen to a nearly four-year high. According to TradingView, the figure first exceeded 64% and then returned to 61%.
According to Rekt Capital, the flagship cryptocurrency's dominance reached a low of below 55% in early December 2024.
This was the bottom of Bitcoin dominance, effectively confirming the end of the altcoin season we saw in late 2024, he concluded.
The return of altcoin season can only be expected after Bitcoin's dominance grows by at least another 16% from its current level.
If history repeats itself, the real altseason that everyone is waiting for will begin after Bitcoin dominance starts to decline from 71%, he commented.
According to Stockmoney Lizards, an analyst, it is only a matter of time before Bitcoin's "influence" ends. He believes that altcoins are currently lagging behind the leading cryptocurrency due to several factors: popularity bitcoin ETF and Trump's plans to create a strategic BTC reserve.
