Analysts see BTC surge as delaying, not ending, altcoin season

An analysis suggests that Bitcoin's recent run to a new all-time high, which briefly pushed its market dominance to 59%, indicates a delay rather than a cancellation of the anticipated altcoin season. According to Decrypt, Steven Gregory, founder of the crypto trading platform Vtrader, said last week's surge in both stablecoin market capitalization and the BTC price may be due to the market release of $1 billion in frozen funds from the bankrupt FTX exchange. He explained that it is common for investors to move into BTC first during a bull market and that this does not signal the end of a potential rally in altcoins. Gregory added that if Bitcoin's dominance fails to decisively break above 60%, capital could rotate quickly into altcoins. Separately, Bitget CEO Gracy Chen suggested that a true altcoin season may still be several weeks away. She noted that a drop in Bitcoin's dominance below 55% could be a key trigger for altcoin momentum.