"Altcoin Season Expected to Begin in June as Bitcoin Dominance Declines"

Minseung Kang

Summary

Bitcoin's market share is declining, indicating signs that the altcoin season may begin in earnest in June.
With the increase in the total cryptocurrency market capitalization, there is an assessment that the possibility of capital movement from Bitcoin to altcoins is growing.
Despite Bitcoin's adjustment, it is analyzed that most altcoins have established a rising foundation and the possibility of further decline is low.

There is a forecast that the altcoin season could begin in earnest next month as Bitcoin (BTC)'s market dominance weakens.

On the 15th (local time), the cryptocurrency specialist media CoinDesk reported that "Bitcoin's market share fell from 65% to 62% over the past week, ending a five-month upward trend." During the same period, the total market capitalization of cryptocurrencies increased from $2.9 trillion to $3.24 trillion, suggesting the possibility of capital moving from Bitcoin to altcoins.

Joao Wedson, CEO of Alphractal, analyzed, "The relative strength of altcoins compared to Bitcoin has already begun, and the decline in Bitcoin dominance could become steeper."

He predicted, "Even if Bitcoin undergoes adjustments in the coming weeks, most altcoins have already passed the bottom, and the possibility of further decline is not significant," adding that "some of Bitcoin's $2 trillion market cap will move to altcoins."

The media added, "Amidst Bitcoin's somewhat stalled upward trend, there is also an assessment that a structural foundation is being formed for funds to be distributed to the small altcoin sector."

BTC