While Bitcoin continues to break new ground, altcoins are quietly staging their own rally—without denting Bitcoin’s dominance in any significant way. Some analysts now suggest this could be just the beginning.
Crypto strategist Matthew Hyland noted on Friday that altcoins have been “ripping” while Bitcoin dominance remains firm near 64.5%. “BTC dominance hasn’t even sneezed,” he posted on X, questioning what might happen if that number falls further—from 65% to, say, 45%.
Historically, a sharp drop in Bitcoin dominance is seen as a signal for an incoming altcoin season, as capital rotates into the broader market. But this time, altcoins are already surging—even without that shift.
Tokens like MemeCore (M), Mog Coin (MOG), and Stellar (XLM) have posted weekly gains of 1,263%, 75%, and 67% respectively. Ethereum (ETH) is also up nearly 18% over the week, and the ETH/BTC ratio has risen by over 8%—a potential sign that altcoins are starting to outperform.
Still, the market hasn’t fully flipped. CoinMarketCap’s Altcoin Season Index shows a reading of 29 out of 100, signaling the market is still in “Bitcoin Season.” But that may change soon.
Analyst Michael van de Poppe suggested on X that the market is approaching what could be the “final easy and biggest bull ever” for altcoins. Market intelligence firm Santiment echoed that sentiment, reporting data that supports the early stages of a shift—so long as Bitcoin holds above $110,000.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.