- Bitcoin surges >$85k, but BTC Dominance shows weakness (RSI/MACD)
- Altcoin market cap (TOTAL2) breaks $960B, tests key $1.02T Fib resistance
- Weak BTC.D and a strong TOTAL2 test historically signals altcoin season start
Bitcoin just broke key resistance, surging over 8% in seven days past $85,000. But technical signals suggest this BTC strength might soon fuel a major altcoin rally, potentially kicking off a powerful “altcoin season.”
According to CoinMarketCap data, Bitcoin dominance now stands tall at 63.8%, continuing its upward trajectory.
Is Bitcoin’s Dominance Peaking?
However, if we look closely, BTC dominance has entered the RSI overbought zone (69.82), and the MACD histogram is showing weakening momentum, signaling that a rotation may be near.
Historically, such conditions in BTC dominance precede a reallocation of capital into altcoins. And this time, the signs are aligning with even more weight.
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Altcoin Market Cap (TOTAL2) Tests Key Breakout Level
The Total Crypto Market Cap excluding BTC (Total2) has crossed the $960 billion mark, showing its first real sign of strength after weeks of consolidation. Total2 is now testing the 0.618 Fibonacci level, a very important level for bullish continuation.
Above that, the next major resistance lies at $1.1 trillion, aligning with the 1.0 Fibonacci extension. A breakout here could open doors toward $1.27 trillion (1.618 Fib) which is historically a key target during bull market rallies.
The accumulation/distribution indicator also shows a steady climb, suggesting that smart money is quietly loading up before a possible vertical move.
If Total2 flips the 100-day EMA into support, a level analysts like El Crypto have emphasized, it could mark the official ignition of an altseason.
El Crypto: “This Is the Last and Strongest Leg of the Bull Market”
Popular analyst El Crypto Prof, believes the trigger for the market’s “last and strongest leg” – likely favoring altcoins – is a collapsing USDT dominance (USDT.D). He sees this as money moving from stablecoins back into crypto, particularly altcoins.
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“As I said in my last post, the last and strongest leg of the bull market starts with this signal. Up only first — and then you should sell everything and not come back for a long time.” If the altcoin sector pushes above these levels, it would mean that the last few weeks were a massive bearish trap.
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Source: https://coinedition.com/what-total2-market-cap-level-confirms-an-altcoin-breakout/