Experts: “Altcoin Season is Coming Instead of Bitcoin”

BTC dominance, 58.77% on the 16th... Reaching an all-time high
Experts say "BTC dominance will hit 60% and altcoins will rise"

On the 16th, many cryptocurrency experts predicted that the recently surging BTC dominance will soon reach its peak and start to correct, and this will be followed by the 'altcoin season'.

BTC dominance, which represents the share of BTC in the cryptocurrency market, has been soaring along with the rise of BTC. BTC dominance exceeded 58% on the 14th and reached 58.77% on the morning of the 16th, setting a new all-time high.

As BTC dominance continues to surge this week, many cryptocurrency experts such as Benjamin Cowen, Mowataz Elsayed, and Coach K Crypto have unanimously predicted the demise of BTC dominance and the arrival of the altcoin season.

Coach K Crypto tweeted on the 16th that "BTC dominance has peaked in this cycle, which was inevitable before a major event in the market", and "soon BTC dominance will collapse, and the season of meme coins and major altcoins will come".

The experts have identified 60% as the peak of BTC dominance. Benjamin Cowen emphasized on his X account that "BTC dominance will peak at 60% from the current level".

Mowataz Elsayed also shared the same outlook, stating on his X account that "BTC dominance will soon plummet, and the altcoin season will then begin".

The cryptocurrency expected to benefit the most from the decline in BTC dominance is Ethereum (ETH).

Cryptocurrency media Cointelegraph wrote that "historically, the cryptocurrency that has seen the biggest gains during the decline in BTC dominance is Ethereum, and the ETH/BTC price ratio is currently below 0.039, the lowest level since April 2021".

Reporter Kwon Seung-won ksw@