The probability of an Altcoin Season diminishes as Bitcoin’s price continues to rise, affecting market conditions and investor confidence in altcoins.
Points
- Altcoin market shows signs of weakening uptrend.
- Average Directional Index （ADX） approaching critical threshold.
- Bitcoin’s dominance at 55.49% forms a symmetrical triangle.
- Altcoin market performance remains subdued.
- Only Toncoin and PEPE record significant gains.
The much-anticipated Altcoin Season appears to be drifting away as the uptrend in the altcoin market loses strength. This shift is largely due to the rising price of Bitcoin, which continues to dominate market sentiment and liquidity.
Beincrypto
The Average Directional Index （ADX）, a technical indicator used to gauge the strength of a trend, is approaching the critical threshold of 25.0. A drop below this level would indicate a lack of momentum, further suggesting that the current uptrend in the altcoin market is weakening.
Over the past season, most altcoins have struggled to achieve significant growth. Notably, only Toncoin and PEPE have managed to record gains exceeding 50%, highlighting their exceptional performance in an otherwise stagnant market.
Beincrypto
Bitcoin’s dominance recently rose to 55.49%, forming a symmetrical triangle, a bullish continuation pattern. This suggests a potential rise of 4.34%, which could bring Bitcoin’s dominance to 57%. If Bitcoin’s dominance continues to increase, it could further delay the arrival of an Altcoin Season, as investors may focus more on Bitcoin rather than altcoins.
Despite the subdued performance of the altcoin market, the global crypto market valuation has surged from $2.4 trillion to $2.6 trillion, reflecting the overall positive market sentiment driven primarily by Bitcoin’s recovery.
解説
- The weakening uptrend in the altcoin market indicates a reduced probability of an imminent Altcoin Season.
- Bitcoin’s dominance continues to rise, forming a bullish continuation pattern that could further delay the shift towards altcoins.
- The Average Directional Index （ADX） approaching critical levels suggests a lack of momentum in the altcoin market.
- Despite some altcoins like Toncoin and PEPE achieving significant gains, the overall market remains subdued.
- Investors should monitor Bitcoin’s dominance and key technical indicators to better understand the potential for an Altcoin Season.