Ethers $2,400 Swing Sparks AltSeason XRP, Solana, Cardano Poised For Next Crypto Gold Rush
Ethereum (ETH) price is in a breakout zone, igniting market commentators toward an altcoin season. The growing debate lies in the previous months analysis of a specific asset-based altcoin season amid rising Bitcoin prices. The leading altcoin has recorded a 20% daily jump, spearheading other assets to monthly highs. However, some crypto analysts dont see sustainability for a full-swing alt dominance.
Is The Altcoin Season Here?
A cross-section of the digital asset community has tipped a larger rally in altcoin prices, suggesting a strong dominance in the coming week. This bullish projection will start with a surge in Ethereums price over the $2.5k mark. With a rise in altcoin prices, crypto enthusiasts have explained the chances of an altseason this cycle.
Pseudonymous analyst CryptoGoos stated explicitly on X that the season has kicked off. The season is determined by the overall performance of top altcoins above Bitcoin within a timeframe. This is characterized by mass capital flow off the top crypto assets to Ether, XRP, Solana, etc.
Crypto enthusiast Carl Moon added that the season has begun, citing Ethereums price rally above Bitcoin in the last 48 hours. On-chain data also shows a breakout in the altcoin season index, the highest level since March, and a clear upward trajectory since Q4 2024.
A Rallying Point Still Far Away
Vandell, the co-founder of Black Swan, opposed the view of an altcoin season. According to him, recent prices have been stimulated by positive macro trends that have not affected Bitcoins dominance. BTCs dominance is expected to plummet between 15% and 50% for a fully blown alt season.
With Bitcoin dominance at 64% now, if you think altcoin season is starting now, youre mistaken. This is all driven by the macro factors, remember that. A significant decline for Bitcoin, very likely in 2025, is needed to ignite the next altcoin season, driving capital into altcoins and other cryptos for substantial price rises. This decline has always been at the end of the Bitcoin bull run. Vandell added.
The recent surge in Bitcoins price comes following the US-UK trade deal and an overall cooling of political tensions. BTCs price hit a three-month high above $103k, while Ethereum reclaimed $2,300. At the time of writing, Ether exchanges recorded a 20% daily price rally, taking its weekly gain above 28%. Meanwhile, XRP saw an 8% spike, while Solana and Cardano posted 8.2% and 7.4% inflows, respectively.
Text source: ZyCrypto
