A crypto analyst says altcoins may still have plenty of room to run, noting that many are already rallying without putting much of a dent in Bitcoin’s market share.
“BTC dominance hasn’t even sneezed and alts are ripping,” Matthew Hyland said in a post on X Friday.
Altcoins Rally as Bitcoin Dominance Holds Steady
Despite Bitcoin hitting new all-time highs three days in a row—climbing to $118,760 on Friday—its dominance has only dipped slightly. According to TradingView, Bitcoin Dominance stood at 64.46% at the time of writing, down just 1.53% over the past week. Meanwhile, altcoins have seen sharp gains.
Hyland pointed out the potential for even stronger altcoin performance if Bitcoin Dominance falls further: “What do you think happens if it drops from 65 to 45?”
Traditionally, analysts use Bitcoin Dominance as a signal for altcoin season. A notable decline often indicates altcoins are taking a larger share of the market. But in this case, even with dominance holding relatively steady, the altcoin rally may suggest fresh capital is entering the broader crypto space.
Among the top performers this week, MemeCore (M) surged 1,263%, leading the top 100 crypto gainers. Mog Coin followed with a 75.01% jump, and Stellar rose 67.43%, according to CoinMarketCap data. Ether, the second-largest cryptocurrency by market cap, is up 17.68% over the past week—another signal that traders may be shifting their focus beyond Bitcoin.
Trader Predicts “Final Easy” Altcoin Season as Momentum Builds
The ETH/BTC ratio—used to gauge Ether’s strength relative to Bitcoin—has climbed 8.39% over the past week, signaling growing momentum for altcoins.
Still, CoinMarketCap’s Altcoin Season Index shows the market remains tilted toward Bitcoin, with a current reading of 29 out of 100, indicating it’s firmly in “Bitcoin Season.”
Despite that, optimism around altcoins is growing. In a Friday post on X, MN Trading Capital founder Michael van de Poppe predicted a major rally ahead. “I assume that we’re about to witness the final easy and biggest bull ever on altcoins,” he wrote.
On-chain analytics firm Santiment echoed that sentiment, stating their metrics show altcoin season has officially begun. “The data confirms that, for now, it has,” Santiment noted.
They added that if Bitcoin can hold above the key psychological level of $110,000, traders are likely to continue rotating profits into altcoins, further fueling their rise.
