Bitcoin Dominance Chart Forms Bearish Wedge Pattern, Altcoin Season On The Horizon

Crypto
analyst
Titan
of
Crypto

has
highlighted
a
bearish
pattern
on
Bitcoin’s
dominance
chart,
suggesting
that

altcoin
season

might
be
on
the
horizon.
The
analyst
expects
these
altcoins
to
make
massive
moves
soon
enough,
having
experienced
significant
declines
for
some
time
now. 

Bitcoin
Dominance
Chart
Forms
Bearish
Pattern

Titan
of
Crypto
mentioned
in
an
X
(formerly
Twitter)

post

that
the
breakout
on
the

rising
wedge

on
Bitcoin’s
dominance
has
been
confirmed.
As
such,
Bitcoin’s
dominance
is
expected
to
experience
a
decline
to
the
downside.
The
crypto
analyst
added
that
this
could
be
a
good
time
for
altcoins
to
recover
after
weeks
of
corrections. 

A
drop
in
Bitcoin’s
dominance
is
usually
bullish
for
altcoins.
Such
development
could
usher
in
the

altcoin
season

when
these
crypto
tokens
are
known
to
decouple
from
the
flagship
crypto
and
outperform
it. 

Data

from
the
Blockchain
Center
suggests
that
the
altcoin
season
might
be
on
the
horizon,
as
there
has
recently
been
an
increase
in
the
number
of
altcoins
outperforming
Bitcoin.
Altcoin
season
is
confirmed
when
75%
of
the
top
50
coins
by
market
cap
have
outperformed
Bitcoin
over
the
last
90
days. 

Crypto
experts
like

Michaël
van
de
Poppe

had
previously
suggested
that
the
launch
of
the
Spot
Ethereum
ETFs
might
be
the
catalyst
to
kickstart
the
altcoin
season.
These
funds
are
expected
to
spark
a
significant
rally
for
Ethereum
(ETH),
which
could
lead
to
massive
moves
for
other
altcoins. 

Ethereum
is
known
to
usually
lead
other
altcoins
into
this
altcoin,
especially
as

its
dominance
against
Bitcoin

begins
to
rise.
Titan
of
Crypto

predicted

that
ETH’s
dominance
against
BTC
could
significantly
increase
in
the
coming
weeks
and
months,
which
he
stated
could
lead
altcoins
to
surge. 

“Face-Melting”
Altcoin
Season
Is
On
The
Way

Crypto
analyst
Lark
Davis

recently
claimed
that
a
“face-melting”
altcoin
season
is
on
the
way
and
that
all
the
crypto
community
needs
to
do
is
to
be
patient.
The
analyst
also
alluded
to
a
recent
analysis
by

crypto
analyst
Mikybull
Crypto.
Mikybull
Crypto
stated
that
the
macro
short-term
correction
for
altcoins
is
about
to
end.
He
told
the
crypto
community
to
prepare
for
the
upcoming
markup
phase
as
the
altcoin
season
for

this
cycle

is
still
in
play.

In
a
recent

X
post,
Mikybull
Crypto
stated
that
this
cycle’s
altcoin
season
will
be
“glorious.”
He
made
this
statement
while
revealing
that
the
ETH/BTC
pair
is
preparing
to
leave
its
3-year
Wyckoff
re-accumulation
range.
He
added
that
a

bullish
divergence

is
currently
playing
out
as
it
did
in
2020. 

While
the
altcoin
season
may
be
on
the
horizon,
crypto
analyst
Andrew
Kang
has

warned

that
most
altcoins
have
topped
out
in
this
cycle
and
are
likely
to
re-record
new
highs.
As
such,
crypto
investors
might
have
to
be
very
selective
in
what
altcoins
they
invest
in. 

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image
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with
Dall.E,
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