<p>The altcoin market is heating up, <a href="https://coinpedia.org/news/crypto-news-today-sept-21st-2024-is-this-why-bitcoin-price-is-down-today/" target="_blank" rel="noopener noreferrer nofollow">with a recent 5.7% surge</a> in market cap signaling the start of a potential altcoin season. Ethereum and other major altcoins are primed for big gains as Bitcoin’s grip on the market weakens. Crypto analyst Ali Martinez has warned of a potential breakdown in Bitcoin dominance, with a rising wedge pattern <a href="https://coinpedia.org/price-analysis/bitcoin-failed-to-hold-64000-whats-next/" target="_blank" rel="noopener noreferrer nofollow">indicating a bearish trend</a>.&nbsp;</p>  
<p>Meanwhile, the altcoin market cap is breaking out of a falling wedge, hinting at a massive rally ahead. Could this be the moment altcoins steal the spotlight?</p>  
<h2 class="wp-block-heading" id="h-bitcoin-dominance-to-faces-potential-breakdown">Bitcoin Dominance To Faces Potential Breakdown</h2>  
<p>According to a recent tweet by popular crypto analyst Ali Martinez, Bitcoin's dominance in the crypto market may be on the verge of a breakdown. Martinez pointed out a rising wedge pattern forming in Bitcoin dominance, a bearish signal that often precedes a decline.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  https://twitter.com/ali_charts/status/1837417127545843967
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<p>This potential shift could have created opportunities for altcoins to gain more market share.&nbsp;</p>  
<p>Since the middle of September, <a href="https://coinpedia.org/news/bitcoins-breakout-hangs-in-the-balance-will-it-break-the-psychological-inflection-line/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin has begun to experience</a> a slight price increase, briefly surging past critical levels below $62,000. This price rise also affected its market dominance, but instead of solidifying its position, investors have started shifting their focus to altcoins.&nbsp;</p>  
<p>As a result, Bitcoin's dominance has been gradually decreasing, currently <a href="https://in.tradingview.com/symbols/BTC.D/" target="_blank" rel="noopener noreferrer nofollow">standing at 57.95%</a>.</p>  
<h2 class="wp-block-heading" id="h-altcoins-poised-for-a-breakout">Altcoins Poised for a Breakout?</h2>  
<p>The decline in Bitcoin dominance comes as the altcoin market shows signs of breaking out from a falling wedge pattern, a bullish indicator that often signals upward momentum. This dual movement—Bitcoin's weakening dominance and the <a href="https://coinpedia.org/news/altcoin-bull-run-to-begin-soon-analyst-lists-coins-with-200x-potential/" target="_blank" rel="noopener noreferrer nofollow">altcoin market's potential breakout </a>has raised speculation about the possibility of an impending altcoin season.&nbsp;</p>  
<p>Altcoins have experienced notable growth this week, alongside Bitcoin (BTC). This upward movement has caused the Altcoin Season Index to climb to a two-month high of 45, according to <a href="https://www.blockchaincenter.net/en/altcoin-season-index/" target="_blank" rel="noopener noreferrer nofollow">data from Blockchain Center.&nbsp;</a></p>  
<p>The rising index reflects growing optimism toward altcoins. However, for the index to surpass 75 and signal a full-fledged altcoin season, altcoins must continue to build on their recent gains.</p>  
<p>Also Check Out: <a href="https://coinpedia.org/news/skybridge-capital-founder-lauds-sol-for-leading-tokenised-assets-space-sol-rally-nearing/" target="_blank" rel="noopener noreferrer nofollow">SkyBridge Capital Founder Lauds SOL For Leading Tokenised Assets Space; SOL Rally Nearing?</a></p>

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