Bitcoin’s dominance in the market has dropped to 56%, while its price remains below the $100,000 mark, raising questions about the onset of an altcoin season. Alternative cryptocurrencies, such as Ripple (XRP) with a 322% surge over the past month, Solana (SOL) hitting $260, and Cardano (ADA) growing by 200%, have shown significant gains, adding $80 billion to the total cryptocurrency market cap.
Experts suggest that the continued decline in Bitcoin dominance could boost altcoin performance, especially amid anticipated regulatory shifts under the new U.S. administration and the resignation of Gary Gensler from the chairmanship of the Securities and Exchange Commission (SEC).
While it is still early to confirm the start of the altcoin season, current indicators, such as the “CoinMarketCap” index nearing its threshold, point to the potential for a strong breakout in the near future.
