Analysts Warn Altseason Not Yet Confirmed as BTC Dominates Market

Analysts suggest the possibility of an altseason as Ethereum experiences significant gains and many altcoins rise. The bullish momentum signals a potential shift where altcoins outperform Bitcoin.

Ethereum's breakout above key resistance levels has bolstered market optimism.
Large-cap and mid-cap altcoins are following Ethereum's lead.
Speculation arises that capital may be rotating from Bitcoin into altcoins.
Some analysts caution due to Bitcoin's dominance and many altcoins still below all-time highs.

Current Market Dynamics

Analyst Darkfost indicates that the anticipated altseason hasn't officially begun, noting weak performance among altcoins compared to Bitcoin.
The last notable altseason occurred in early 2024 when mid- and small-cap coins outperformed Bitcoin.
Currently, while Ethereum sets multi-year highs, the rally appears selective with large caps recovering but mid- and small-caps lagging.
A sustained breakout in mid- and small-cap performance relative to Bitcoin is necessary for a confirmed altseason.

Market Cap Insights

The Total Crypto Market Cap excluding Bitcoin (TOTAL2) is at $1.57 trillion after a 13.21% weekly increase, nearing the critical resistance level of $1.6 trillion.

The market has shown a consistent uptrend since early 2024, maintaining above the 50-week moving average.
If successful, TOTAL2 could target the previous all-time high near $1.75–$1.8 trillion.
Failure to break resistance may lead to a retreat toward $1.4 trillion support.

The upcoming weeks will be critical for determining if altseason will commence.