When the Altcoins (Excl. Top 10) vs USDT Dominance Ratio rises, it signals that money from Tether (USDT) is moving into altcoins. Conversely, when the ratio falls, it indicates that altcoins may have reached their historical peak and are entering a downtrend.

Each cycle shows that upon reaching the historical trendline, the altcoin market declines as smart money moves into stablecoins.

While we cannot definitively say there will be a new test of the trendline, if it happens, altcoins may experience a temporary increase. Overall, the peak in March 2024 could have been the high for the altcoin cycle, so it’s likely we will go through a new accumulation phase before any potential price increase.