New Era

Bitcoin

Resistance

Fantom (Migrated to Sonic)

<p>Over the past 90 days, 15 out of the top 50 <strong>altcoins</strong> have outperformed <strong>Bitcoin (BTC)</strong>, sparking speculation among investors that an altcoin season could be near. Whether altcoins will continue to surpass Bitcoin’s performance will likely become clearer in the coming weeks. Investors are closely watching the latest developments. Here’s the rundown…</p> 
<p><a href="https://www.qubetics.com/?utm_source=TBJ&amp;utm_medium=postBANNER" target="_blank" rel="noopener nofollow"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-51679 aligncenter" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/10/Qubetics-is-728x90-1-3.jpg" alt="A New Era in Crypto: Is Altcoin Season Approaching? = The Bit Journal" width="728" height="90" title="A New Era in Crypto: Is Altcoin Season Approaching? 39"></a></p> 
<h2 id="altcoin-season-index-rising-but-bitcoin-dominance-holds-strong">Altcoin Season Index Rising, But Bitcoin Dominance Holds Strong</h2> 
<p>According to data from Blockchaincenter, the <strong>Altcoin Season Index</strong> recently climbed to 31 after being below 25 just days ago. However, for a true altcoin season to be confirmed, the index must reach 75. This would mean that 75% of the top 50 cryptocurrencies (excluding Bitcoin) must outperform BTC. Will this scenario play out?</p> 
<h2 id="prominent-analyst-flags-a-warning">Prominent Analyst Flags a Warning</h2> 
<p>Currently, 15 altcoins, or 30% of the market, have outperformed Bitcoin. Leading this momentum are projects like <strong>Sui (SUI)</strong>, <strong>Fantom (FTM)</strong>, <strong>Uniswap (UNI)</strong>, and <strong>Dogecoin (DOGE)</strong>. In recent weeks, while most altcoins lagged behind Bitcoin, the rising index now signals a potential altcoin season on the horizon.</p> 
<h2 id="could-bitcoin-dominance-delay-altcoin-season">Could Bitcoin Dominance Delay Altcoin Season?</h2> 
<p><strong>Bitcoin’s market dominance</strong> plays a critical role in the timing of an altcoin season. Following the recent U.S. presidential election, BTC reached a new peak above $76,000, pushing its dominance up to 60.61%. For an altcoin season to fully materialize, Bitcoin’s dominance would need to decrease. Although current trends suggest an altcoin season may be approaching, Bitcoin still largely directs market trends, making it crucial for investors to monitor Bitcoin’s market dominance closely.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="alignnone size-full wp-image-67239" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/11/an-approaching-altcoin-season-in-the-cryptocurrency-market.-Show-Bitcoin-BTC-as-a-large-coin-in-the-back.webp" alt="A New Era in Crypto: Is Altcoin Season Approaching? = The Bit Journal" width="1792" height="1024" title="A New Era in Crypto: Is Altcoin Season Approaching? 40"></p> 
<h2 id="altcoin-market-cap-breaks-key-resistance">Altcoin Market Cap Breaks Key Resistance</h2> 
<p>Despite Bitcoin’s stronghold, the <strong>altcoin market cap</strong> (TOTAL2), representing the total market cap of the top 100 cryptocurrencies excluding <a href="https://thebitjournal.com/potential-microsoft-shareholder-lawsuit-looms/" target="_blank" rel="noopener">Bitcoin</a>, has broken a significant resistance level. The TOTAL2 chart has moved out of a descending triangle formation.</p> 
<h2 id="after-current-downturn-altcoin-season-may-begin-essential-guide-for-30-100x-portfolios">After Current Downturn, Altcoin Season May Begin: Essential Guide for 30-100X Portfolios</h2> 
<p>The descending triangle pattern is often seen as an indicator of a downward trend. However, this breakout could signal the start of an altcoin season. If TOTAL2 surpasses $1 trillion, the outlook for altcoins may become increasingly positive. Conversely, a fall below the support line might indicate a renewed weakness for altcoins relative to Bitcoin. As The Bit Journal emphasizes, investors should remain aware of risks and conduct thorough research on projects before making investment decisions.</p> 
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A New Era in Crypto: Is Altcoin Season Approaching?

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The Bit Journal

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