Analyst: Altcoin boom could come in June

Mars Finance News, on May 15, the market dominance of Bitcoin significantly declined this month, igniting hopes of a comprehensive altcoin season or the bull market expanding beyond BTC and boosting valuations of other digital asset sectors. Joao Wedson, CEO and founder of crypto data analysis platform Alphractal, predicts that June will usher in a full altcoin season. Bitcoin's dominance rate (an indicator measuring the leading cryptocurrency's market share in the entire digital asset market) dropped from around 65% to 62% within a week, ending a five-month upward trend. Meanwhile, the total crypto market capitalization increased from $2.9 trillion to $3.24 trillion. This comparison indicates investors' interest shifting from Bitcoin to some alternative coins. According to Wedson's analysis, the altcoin season has begun, and Bitcoin's dominance rate is expected to decline rapidly in the coming months. Wedson's proprietary altcoin season index (focusing on 57 selected altcoins) shows that 37 of these altcoins outperformed BTC in the past 60 days. Wedson stated in a detailed post on X: "Even if BTC drops in the next few weeks, most altcoins have already bottomed out and are unlikely to fall below recent price levels. A portion of Bitcoin's $2 trillion market cap is likely to flow into altcoins. Therefore, be sure to analyze your altcoin trading pairs against BTC (such as ETH/BTC or COTI/BTC)." However, broader indicators suggest that the bull market has not yet expanded beyond BTC. For instance, CoinMarketCap's altcoin index (focusing on the top 100 coins) remains at 27, indicating that it is still a "Bitcoin season".