The highly anticipated altseason in the crypto market might continue to be on hold as Bitcoin Dominance is expected to surge to 74%, signaling ongoing investor preference for Bitcoin over other digital assets.
Market analysts project a limited altseason in the current cycle due to Bitcoin's dominance, which historically leads to a surge in Bitcoin investment rather than a widespread shift to altcoins.
While some analysts believe replicating previous altseasons is challenging due to the increasing number of altcoins, others suggest a more selective altseason featuring strong performances from specific projects is still plausible.
The altcoin market has been stagnant according to market expert Daan Crypto, lacking clear bullish momentum. A breakthrough above the $1.27 trillion resistance level could ignite renewed interest in altcoins and potentially spur an altseason.