- Altseason is still delayed as major altcoins struggle to ignite the anticipated market rally.
- Despite the downturn, Ash believes the altseason is coming, citing past market trends.
- BTC dominance remains strong, but ALTS may rise once they break free from BTC’s shadow.
The much-anticipated altseason, which was expected to bring large sums of capital to altcoins from BTC, has not materialized. Thus, despite expectations, the dynamics of altcoins have remained low in recent months. Ethereum and other popular cryptocurrencies have not initiated the rally to ignite the altseason. With top altcoins trending downward, the expectation for a reversal in the market remains low.
The rest of the cryptocurrency market has been under pressure in the past few weeks. The market’s value declined to $3.23 trillion after its peak of $3.73 trillion on December 16, 2024. In the current decline, altcoins have been the most affected. Conversely, Bitcoin has been much more steadfast and has maintained a strong market hold.
Analyst’s Optimistic Outlook
Analyst Ash Crypto provided a more optimistic outlook in an X post on Friday. He believes that “Altseason is 100% coming.” The analyst pointed to the chart of the ALTS/BTC pair, which states that most altcoins are currently low in the pair. According to Ash, previous trends have been noticed, for instance, in December 2017 and December 2020, before a breakout in the altcoin market occurred.
The analyst stated that based on the previous cycle, the downward movement of the pair from ALTS/BTC meant that it had hit the bottom. According to Ash, market corrections should not be alarming for investors, and for those willing to wait, there will be an opportunity to buy altcoins again when they are on the rise.
Related: Ethereum Gears Up for a Major Breakout: Can It Hit $14,000?
However, the current conditions in the market are quite unfavorable for altcoins, but that does not mean there is no altseason. The question will be whether altcoins can come out of the shadow of Bitcoin and start performing independently. Although many observers watch this aspect, the coming weeks may decide whether the altseason will dawn.
