Can Bitcoin Dominance Decline Trigger a New Altseason? Analyst Weigh In!

The cryptocurrency market is buzzing with speculation about the potential for a new altseason, as highlighted by analyst Moustache. Historically, significant shifts in Bitcoin dominance have often heralded a period where altcoins outperform Bitcoin.

This cycle of dominance shifts has been a recurring theme in past alt seasons, creating a pattern many investors are closely watching for signs of a repeat in 2024.A closer look at Bitcoin's dominance reveals intriguing patterns.

The chart tracking Bitcoin dominance over several years highlights notable drops during previous altseasons. Specifically, a substantial decline in Bitcoin dominance in 2017, 2020, and 2021 signalled a strong altcoin performance.

As Bitcoin’s share of the total cryptocurrency market cap decreased, altcoins surged, showcasing their relative strength.$BTC #BTTcReward #bttc🤓 #MtGoxJulyRepayments #BTC☀ #BlackRockETHOptions $ETH $BNB

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