Key Insights:
- Amid the ongoing dip in the crypto market, analyst hints at an altcoin season ahead.
- Bitcoin price has slipped below the $90k level, with BTC dominance also falling.
- The recent altcoin ETF approvals has further bolstered investors’ confidence.
The recent crypto market crash has fueled speculations about whether the altcoin season is still on the cards. Notably, the digital assets have recorded a massive selling pressure over the past few days, suggesting that the investors are shifting their focus.
Amid this, experts have revealed key insights into the potential future movements of the altcoins. In addition, the declining Bitcoin dominance, as evidenced by the BTC crash to below $90,000, has further weighed on the traders’ sentiment.
Having said that, the investors are keeping close track of BTC performance as well as the movements of the altcoins. Besides, the waning institutional interest in Bitcoin and Ethereum, amid the ongoing optimism over altcoin-related ETF approval, has bolstered confidence over a potential altcoin season ahead.
Bitcoin Dominance Signals a Likely Altcoin Season Ahead
The sharp downturn momentum in the broader crypto market has jolted traders and revived a familiar question about whether the long-awaited altcoin season is still ahead. As selling pressure sweeps across digital assets, one prominent analyst is pushing back against bearish sentiment.
Crypto analyst Michael van de Poppe believes that the crypto market is echoing previous cycles where altcoins staged powerful comebacks. Interpreting recent market data, he noted that Bitcoin dominance looks similar to its 2019 structure.
He explained that Bitcoin appears to be struggling at its 20-week moving average, a pattern that previously marked market bottoms. According to him, when Bitcoin stabilizes after such corrections, altcoins often outperform.
He pointed to earlier cycles, saying that trends seen in 2016, 2017, 2019, and early 2021 support this view. Van de Poppe argued that these signals indicate a potential market bottom rather than the beginning of a prolonged downturn.
In other words, he summarized the sentiment by insisting that the current setup is not the start of a bear market, likely hinting towards an altcoin season ahead.
Meanwhile, according to CoinMarketCap data, Bitcoin dominance has slipped nearly 0.3% today, while the “Others” are recording a surge of over 1%.
Lessons from the 2019 Market Woes
Van de Poppe also shared a personal reflection from 2019, describing how his early decisions shaped his outlook on today’s volatility. He recalled trading full-time during the 2018 downturn and surviving through moderate rebounds.
But he admitted that going all-in on altcoin season in 2019 was a painful mistake. As he explained, the market struggled, Bitcoin stalled, and sentiment collapsed, especially when COVID-19 began to unsettle global markets.
He remembered how many dismissed altcoins during that period, calling them pointless or dead. Yet he stayed invested despite heavy losses, holding roughly $30,000–$50,000 in crypto.
Within 12–18 months, the market flipped, and his portfolio recovered. That experience taught him that fear and doubt often peak near major turning points.
Is Altcoin Season Still in the Cards?
Bitcoin price has recorded a massive selling pressure recently, falling below the $90,000 level. This has boosted optimism over a potential shift in investors’ focus towards altcoins.
In addition, the altcoin season speculations further surged as ETF issuers are now focusing on the alt-based funds.
For context, amid the successful launch of the Solana ETF, a flurry of major players like Fidelity are aggressively pushing to launch a new fund.
On the other hand, the XRP ETF approval has further bolstered confidence. Having said that, it seems that an altcoin season is likely, especially if the broader digital assets space witnesses a comeback.