Most professional traders/investors believe that the much anticipated altcoins season will not commence except there are reasonable melt down of the dominance index rates.
Yes, that's true. It has always been the pattern. Dominance of Bitcoin has to drop before altcoins can moon. I hope it gets to $150k before we start seeing that decline in dominance to around 45–48%. Anything above 50% still looks like an unripe time for altcoin in my view. It's a simple mathematics. Once investors (not traders) feel that they've to take out the profit in Bitcoin and reinvest into altcoins, patronage for Bitcoin will start dropping. The first call of interest for altcoins is usually the large capped coins and ETH is always number one on that list. So, funds begin to flow into ETH and others on the top list. From there it trickles down to small caps and memecoins.
To say the truth, we may not notice much bullishness in individual small capped coins because there are so many of them now unlike what we had in 2018 when they were very few.