Market analysts are suggesting that a significant surge in smaller-cap cryptocurrencies, known as “altseason,” could be on the horizon.
Despite recent fluctuations in Bitcoin‘s price, the altcoin market capitalization has remained relatively stable, indicating potential for a bullish phase.
While altcoins have experienced corrections since mid-March, analysts are closely monitoring indicators such as the Bitcoin dominance chart, which suggests a possible reversal in favor of altcoins.
Technical indicators like the Ichimoku indicator are being cited as factors that could contribute to this shift. Analysts anticipate that the narrative in the crypto market will increasingly focus on altcoins following Bitcoin’s halving.
However, many high-cap altcoins are still significantly below their peak prices from 2021, despite recent outliers like Toncoin reaching all-time highs.
Source: Cointelegraph
