Featured image from Unsplash, Charts from X.com and Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Bitcoin (BTC) continues its historic price trajectory, trading in the low $90,000 range at the time of writing. However, a trading firm suggests that Bitcoin dominance (BTC.D) falling below a crucial level could signal the start of the long-anticipated altcoin season. Interest Rate Cuts, Trump Administration To Propel Crypto In a recent Telegram broadcast, Singapore-based trading firm QCP Capital shared its crypto market analysis. The firm highlighted Solana\u2019s (SOL) recent performance, noting that it outpaced Bitcoin and Ethereum (ETH) over the weekend, surging more than 17% from Friday\u2019s lows. Related Reading: Bitcoin\u2019s Market Is Still In An \u2018Healthy Growth\u2019 Phase, Says Analyst\u2014Here\u2019s Why Despite this, QCP Capital acknowledged that many investors remain hesitant to embrace the prospect of an imminent alt season, given Bitcoin\u2019s steady climb toward the psychologically significant $100,000 mark. Rekt Capital\u2019s analysis supports this sentiment, suggesting BTC is just beginning its parabolic phase. QCP Capital, however, predicted that a combination of Donald Trump\u2019s victory in the US presidential election and interest rate cuts by the Federal Reserve (Fed) could set the stage for a full-blown altcoin season in the coming months. Trading Firm Identifies Key Bitcoin Dominance Threshold For Altseason According to QCP Capital, altcoins historically outperform major cryptocurrencies once the latter consolidate after significant rallies. The firm explained: Historically, we’ve seen altcoins outperform whenever the majors consolidate after a significant rally as profits rotate into smaller-cap coins. BTC’s dominance is around 60% now and it will probably need to be around <58% to signal the start of altcoin season. Currently, BTC.D stands at 60.10%. A look at the weekly chart shows that Bitcoin dominance has been on a steady uptrend since November 2022, when it hovered at 39.92%. Over this two-year period, most altcoins have underperformed Bitcoin significantly.\u00a0 However, altcoins have recently shown signs of recovery, coinciding with the growing likelihood of a pro-crypto Trump administration. Digital assets like SOL, Cardano (ADA), and XRP have significantly outperformed BTC in the past few weeks. Related Reading: Ethereum Analyst Sees Altseason Potential As BTS Is Still Outpacing ETH \u2013 Time To Buy Altcoins? QCP Capital\u2019s analysis aligns with that of crypto analyst @MikybullCrypto, who predicts BTC.D will decline starting in December. According to the analyst, altseason could begin toward the end of November and last until March 2025.\u00a0 Some analysts believe Bitcoin may continue its rally before showing signs of weakness. For instance, Fundstrat\u2019s head of research, Tom Lee, recently stated that BTC is on track to reach $100,000 before the end of the year. That said, the altcoin market cap recently surged past a key resistance level, indicating that altcoin season might be closer than expected. At press time, BTC trades at $91,760, trading flat in the past 24 hours. Featured image from Unsplash, Charts from X.com and Tradingview.com<\/p>\n","protected":false},"author":619,"featured_media":653884,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[12333,134,25731,41995,428,13510,1119,75754,78790,12332,1558,1742,12837,83626],"class_list":["post-653877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-ada","tag-altcoin","tag-altcoin-season","tag-altseason","tag-bitcoin","tag-bitcoin-dominance","tag-btc","tag-btc-d","tag-btcusdt","tag-cardano","tag-cryptocurrency","tag-digital-currency","tag-sol","tag-solana"],"acf":[],"yoast_head":"\n
Bitcoin Dominance Sliding Below This Level Could Signal Start Of Altseason, Trading Firm Says<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n