I have been observing the market and I see that BTC dominance is breaking.
Despite the price of BTC is dropping, and I can see that altcoins like solana is holding quite well and just dropped a little.
Could this be the start of altcoin season? Maybe BTC dominance over the market will continue to drop.
What do you think?
Altcoin season was called many times in this market cycle but you can see when Bitcoin is moving closely to its ATH, how about altcoins?
Ethereum failed and other altcoins are down from 50% to more from their ATHs or even more terribly worse from their peaks in this market cycle that surely are not their ATHs.
Dominance of Bitcoin can drop but it's because more new altcoins were launched and contributed to cryptocurrency market cap. Additionally altcoin season exists or not, will you be able to pick good altcoins and get profit?
Altcoin season index is very low now.
https://www.blockchaincenter.net/altcoin-season-index/