👀👀Altcoins May Have Entered the Expected Period! The Subject of This Story is Bitcoin! 👀👀

As Bitcoin's price continues to decline, analysts are predicting its eventual bottom to be between $52,000 and $54,000. Additionally, Bitcoin's market dominance may have dropped to 54.80%, signaling a possible altcoin season.

Despite recent market fluctuations, cryptocurrency analysts think that Bitcoin's downtrend between $52,000 and $54,000 is over. These forecasts play an important role in determining investors' short-term strategies. Additionally, analysts predict a huge upside potential for altcoins with the launch of spot Ethereum ETFs.

With the launch of these ETFs, institutional investors' interest in the cryptocurrency market is expected to increase. This situation is expected to have positive effects on ETH and other altcoins. Additionally, when the performance of altcoins outside the top 50 stablecoins is examined, it is observed that only seven altcoins have made gains recently and approximately 13 altcoins have outperformed Bitcoin. However, five altcoins experienced significant losses, confirming the volatile nature of the market.

The upward trend that Bitcoin has shown since the beginning of the year decreased its dominance with the market activity in late June and early July. The recent price drop has left many Bitcoins without buyers, accumulating mainly in over-the-counter (OTC) reserves. OTC transactions are critical to understanding institutional interest and the decline in these transactions

Considering that Bitcoin is currently at 54.80% dominance and has fallen more than 2% in the last 24 hours, speculation is rife that this decline could signal the beginning of an altcoin season. At the time of writing, Bitcoin is trading around $56,600.