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06/25 09:16

Altcoins Breakout: Over 20% Daily Gain, Is Altcoin

Altcoins Breakout: Over 20% Daily Gain, Is Altcoin Season Coming?

While Bitcoin was making a small gain, some altcoins outside the top 10 were showing great strength

JasmyCoin and SPX6900 were up over 25%, while dogwifhat, Virtuals Protocol, and Jupiter were up over 20%, hinting at a potential altcoin season

In the first few days of May 2025, when Bitcoin broke above the consolidation zone around $96,000, altcoins also triggered a massive rally. Altcoin season is when 75% of the top 100 cryptocurrencies outperform Bitcoin over a period of time. This is complemented by altcoin dominance rising and BTC dominance falling.  The current Altcoin Season Index chart suggests that the altcoin season may not be coming soon as the index remains below 20, hinting at Bitcoin’s dominance.

As can be seen in the chart above, the altcoin market cap appears to be gaining momentum, but the Altcoin Season Index continues to fall. This suggests that Bitcoin retains significant dominance, and hence liquidity is mostly flowing into the STAR token rather than other altcoins. However, over the past 90 days, only a few altcoins such as SYRUP, HYPE, and VIRTUAL have recorded triple-digit gains, and many popular altcoins remain under bearish influence.

Bitcoin and Stablecoin Dominance Reaching a Crucial Moment

After Bitcoin and Ethereum, stablecoins such as USDT or USDC are known to be the largest traded tokens.  Thus, their dominance in the markets sheds light on the mindset of investors regarding whether they choose Bitcoin or an altcoin. In an interesting update, the collective dominance of Bitcoin, USDT, USDC, and DAI shows a similar pattern to what it showed during previous Altseasons. 

Popular analyst Moustache refers to the combined dominance of tokens and found a very interesting pattern. The levels caused a bearish divergence after reaching a certain resistance. This happened before the start of previous Altseasons. Now that the levels have caused a bearish divergence again after testing resistance, the analyst believes that the Altseason 2025 season is loading. 

Which altcoins to watch ahead of the Altseason? 

Since Bitcoin started making big moves, the top 10 tokens do not seem to follow the trend.  However, other altcoins, particularly memecoins, AI, RWA, and DeFi tokens, have been making a lot of noise. SEI has gained over 40% in price in the past few days, while current intraday trading suggests that JasmyCoin, SPX6900, dogwifhat, Virtuals Protocol, Jupiter, and Sonic have gained over 20%.

Aside from these, many other tokens continue to post double-digit gains, indicating growing altcoin dominance. On the other hand, BTC dominance is facing a rejection from the highs at 65.95% and could be heading towards local support around 64.69%. These could be critical levels to access the next course of action, as a bounce could delay AltSeason, while a bearish continuation could revive hopes.

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