Analysis: Possible altcoin season as Bitcoin dominance falls

An analysis has emerged that altcoin season may be on the way as Bitcoin dominance declines. Citing multiple analysts, BeInCrypto outlined that Bitcoin dominance recently fell from the 65% range to 63.31% today. Meanwhile, the ETH/BTC ratio rebounded from its 2020 low and rose more than 12% over the past 24 hours. The publication asserts that this is a signal that funds are flowing from Bitcoin to alt-coins. It added that CoinMarketCap’s Altcoin Season Index, which tracks whether Bitcoin or altcoins outperform over a given period, also surged from 23 to 36 over the past four days. This suggests that funds are flowing within the crypto market towards altcoins. Index values between 25 and 75 are considered neutral but above 75 is considered confirmation of altcoin season.