Altcoin season actually started in October 2023, when the crypto market hit the bottom and the market started to rebound from the low. But the real altcoin season usually starts when Bitcoin ($BTC ) dominance reaches a peak.

In previous bull markets, BTC dominance has always been the key factor to trigger altcoin season. This time is no exception, BTC dominance is affecting the performance of altcoins. As we can see, BTC price almost hit the high of $69K, while Ethereum ($ETH ) and other altcoins are struggling to gather momentum.

At present, we can only see that BTC dominance has reached its major resistance level, which may mean that the dominance of $BTC will peak in the coming months.