While Bitcoin has crossed the $86,000 mark, altcoins have not shown a strong reaction yet. Typically, alt season occurs when more than half of the top 50 market altcoins outperform Bitcoin. Market analysts, including Rekt Capital, suggest signs of an uptrend in altcoins. If the total market value of altcoins can reach $315 billion, the anticipated alt season may begin. Altcoins have recently shown signs of improvement after a 55% drop from their peak. The market has successfully grown from a key support level and is now consolidating above $250 billion. According to Rekt Capital’s analysis, this level has been a turning point in previous market cycles for starting uptrends. If the market can stay above this range, the next target will be $315 billion, which has historically been a strong resistance for altcoins. However, surpassing this barrier requires high trading volume and new capital inflows. Examinations indicate that several short-term rallies have occurred for altcoins in the past year, but none have been strong enough to be considered a true alt season. Currently, the Alt Season Index is at 20, indicating Bitcoin’s dominance over the market. However, if market conditions change and more investors become interested in altcoins, we may witness a fundamental shift in the market trend. You can track the prices of all tokens and cryptocurrencies in real-time on the live price page of digital currencies.
