The altcoin market has been in a bearish trend for the past two weeks, but a key indicator suggests that this decline may be a “relative momentum bottom” and if history repeats itself, we could soon see a “coordinated rise.”

According to Real Vision Chief Crypto Analyst Jamie Coutts, the Crypto Top 200 Equal Weight Index is still in a bearish trend, but the relative momentum shows it has reached its bottom as the Altseason indicator drops to 10%. This historically marks a sustained rally in altcoins.

Stating that the number of daily active users has increased by 97% since the beginning of the year, Coutts predicts that the user increase will lead to higher asset prices. Popular crypto analyst Mustache stated that the launch of spot Ethereum ETFs could provide the necessary support for altcoins.

Bitcoin dominance rate is at 54%, which shows that altcoins still lag behind Bitcoin. According to Blockchain Center data, only 37% of the top 50 altcoins outperformed BTC in the last three months. In order for a subseason to be declared, this rate must exceed 75%.

What do you think about these developments? We are waiting your comments.