🚨Altcoin Season Expectation and the Role of $BTC in the Cryptocurrency Market🚨
Pav Hundal, analyst at Swyftx, highlighted that Bitcoin's rise above $100,000 is essential for the anticipated altcoin season to begin. Currently, altcoins remain volatile, with large gains followed by declines, until Bitcoin reaches this milestone. Although memecoins and some altcoins show significant gains, Bitcoin's dominance, currently at 58.3%, needs to decrease for capital to be directed towards altcoins. However, institutional investors, focused on Bitcoin and ETFs, are reducing the liquidity available for altcoins, which could impact the growth of the altcoin market in the coming cycles.
