CandleFocus Miles Deutscher Calls Altcoin Season Setup ‘Fantastic’ Despite Bitcoin (BTC) 61% Dominance
2024-11-14
Author: Content Editor
Crypto analyst Miles Deutscher believes that the altcoin season may be on the horizon as TOTAL3, the market capitalization of the top 125 cryptocurrencies excluding Bitcoin and Ethereum, has formed strong support and surpassed notable resistance. However, altcoin season can only truly begin when Bitcoin dominance drops, which currently stands at 61.33%. The altcoin season index remains below the threshold, indicating that most altcoins have not outperformed Bitcoin in the past 90 days. If Bitcoin experiences a significant correction, it could pave the way for altcoins to thrive and officially start the alt season.
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