Bitcoin Dominance Grows as Altcoin Season Delays Until 2025: Key Data Insights
Ethereum (ETH), one of the leading platforms for smart contracts, may be gearing up for a rally, based on indicators noted by a well-known crypto analyst.
The crypto market saw a turbulent week with prices trending downward, dashing hopes for an anticipated “altcoin season.” New data suggests that a surge in altcoin performance might not happen until 2025.
Bitcoin dominance, meanwhile, continues to strengthen. According to a recent post from the analytics platform Alphractal, very few altcoins have outperformed Bitcoin (BTC) over the past month. Traditionally, when BTC stabilizes or rises, some altcoins shine, yet the past 90 days have shown little movement toward an altcoin season. BTC’s market share increased by 1% within a week, reaching over 56% at last check, underlining its market strength as most altcoins struggle.
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The Altcoin Season Index currently stands at 27. This reading aligns with a “Bitcoin season” rather than an “altcoin season,” which would require a value near 75. These trends indicate a prolonged wait for altcoins to rally.
Data from Santiment reveals that ETH’s sentiment turned bearish last week, while BNB and SOL sentiment remained positive despite recent price declines. This suggests investors still have confidence in BNB and SOL.
Further analysis of derivative data showed a dip in the long/short ratios for BNB and SOL, indicating more short positions in the market, a bearish signal. Conversely, ETH’s long/short ratio rose sharply, suggesting a potential price rebound.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
