Let's talk about altcoins and try to figure out when the altcoin season will start.
If you are an altcoin holder: Don't sell now, this may be your biggest mistake in this cycle.
Here are the key factors that altcoins may rise soon, let's wait and see the altcoin season
1. BTC dominance
It indicates the market value of BTC as a percentage of the total cryptocurrency market value. Since April, this dominance has formed a range between 53.9% and 57%. Once the dominance starts to decline and falls below this range, it will be an excellent signal of the upcoming altcoin season.
2. ETH ETF is about to be approved.
Although the specific date remains a mystery, there are rumors that it may be approved as early as July. This milestone may clarify the trend of altcoins and pave the way for more ETFs.
3. SOL ETF is expected to be the next
3iQ Corporation has applied to launch a spot SOL-ETF in Canada with the ticker QSOL. The company's assets are worth about $1 billion. Canada already had spot ETFs for BTC and ETH before the U.S. had futures ETFs for both assets.
A similar situation occurred in the last cycle. During the COVID-19 pandemic, we saw BTC fall 63% while many altcoins fell 80%. This pain point became the best entry point for most tokens.
