In recent weeks, many altcoins have started to outperform Bitcoin (BTC). This has sparked speculation that the market could be nearing the anticipated altcoin season, where altcoins deliver higher percentage gains compared to Bitcoin.
To validate the altcoin season, at least 75% of the top 100 cryptos must outperform Bitcoin within 90 days. Recent movements in the altcoin season index highlight an upward trend, influenced by the performance of cryptos like Sui, Bittensor, and Fantom.
Despite improvements, it is not yet altcoin season. However, Bitcoin Dominance (BTC.D) has been decreasing, and the TOTAL2 chart, representing the total crypto market cap excluding BTC, has increased. This suggests Bitcoin might soon step back, allowing altcoins to lead.
Several analysts predict that altcoin season is near. The Negentropic handle on X and analyst Miles Deutscher have optimistic views. If current trends continue, the altcoin market cap might reach $1.3 trillion or as high as $1.5 trillion.
