Altcoins are experiencing a significant slowdown. Google searches for the "alt season" have dropped by over 50% in a week, indicating waning interest in this crypto market segment. As Bitcoin takes a breather, will altcoins have the chance to reclaim the spotlight?
Although Bitcoin dominance remains below 60%, and its market capitalization has lost $230 billion from its all-time high, conditions appear ripe for a rotation toward altcoins assets. However, one key element is missing: FOMO (Fear Of Missing Out) hasn’t yet taken hold.
Indeed, the “alt season” index remains stuck below 60, far from a level that would confirm a genuine alt season. Additionally, Google search interest for this theme has dropped significantly, falling from 100 to just 13 in a single week. These signals indicate that capital flows toward altcoins remain hesitant, despite seemingly favorable conditions.
During the previous bull cycle, the dynamics were very different. Bitcoin dominance quickly fell to 54%, while the total market capitalization excluding Bitcoin (TOTAL2) reached $1.7 trillion. Most importantly, the “alt season” index not only exceeded 75 but even soared beyond 85, confirming a genuine alt season.
The current situation clearly diverges from this pattern. Although BTC.D and TOTAL2 are aligned, the “alt season” index remains stuck below 60. This means that FOMO hasn’t yet captured investors’ attention, a crucial element for the emergence of a true altcoin bull cycle.
Crypto market analysis suggests that the moment may not have arrived yet for a genuine alt season. While technical conditions seem conducive to a rotation toward alternative assets, the absence of FOMO could hinder the emergence of a new bull cycle. The market’s upcoming developments will be worth watching closely.
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