Where is ALT season ? Narket Cap Data shows clear direction
It is a question that has been asked for a while now.
What on earth has happened to the Fabled ALT Season ? The Time of Quick and Fast earnings on ALT coins.
Market Cap data shows us very clearly how Bitcoin alone is responsible for the lack of ALT Season so far.
In summery we see that, using the Market Cap charts, the recent pull backs since December 2024, Bitcoin has pulled back a lot less than the others and that ETH is a big losser here also.
Pull back %'s in Crypto Market Caps
TOTAL = - 15.51%
TOTAL 2 = -25.98 % ( Excluding BTC )
TOTAL 3 = -22.61 % ( Excluding BTC % ETH )
OTHERS = - 40.57% ( Top 125 coins minus top 10 by Dominacne )
We can see from the difference between the TOTAL 2 and TOTAL 3 charts how ETH is responsible for a 3% Drop in the TOTAL market cap ...Thats a Big amount for one single coin.
We can also see how the Biggest Loosers so far this cycle are the Mid Cap ALT coins.
The Big question now is, will They recover and will we get an ALT Season ?
Lets Look at the charts to see where we are
TOTAL Crypto Market Cap
https://www.tradingview.com/x/WKR5QAvL/
PA is above Support, back in the Green zone and with room to move before resistance needs to be broken
TOTAL 2 Crypto Market Cap
https://www.tradingview.com/x/QwHuowit/
In trouble. Below Resistance in two places. There is currently a push up and PA is about to hit that line od resistance. We will know in the next few days the outcome of this.
ETH needs to show strength here to help support the idea of an ALT Season
TOTAL 3 Crypto Market Cap
https://www.tradingview.com/x/Ez6npd74/
The ALTS themselves are in an area that has Support below but are about to hit resistance. However, there is strength there as we can see PA broke out of the rannge at one point but the market pulled back and took them with it. this chart shows us ALL the Alts and is very likely supported by the Huge impact of the Meme craze and Solana. As was mentioned above, This was a smaller pullback than the ETH & ALT chart above.
OTHERS Crypto Market Cap
https://www.tradingview.com/x/MONiTmpA/
This is the chart that surprises me the most.
The well know Mid Cap Alts took the biggest hit since December 2024 - Nearly double the losses of the Total 3 ALT market - Could this also be showing us that ALTS on the ETH network were liable to bigger losses. ? Coins like AVAX, LINK etc
PA here has just bounced off support but has run straight into resistance. This really Needs to break through as Sentiment needs to be improved.
But the BIGGEST thing that needs to break, to allow an ALT SEASON is of course, Bitcoin Dominance. BTC.D
https://www.tradingview.com/x/NzSsE5f1/
ALT seasons are in the times after Bitcoin Halving when BTC Dominance Drops and money flowed into ALTS>
But these days, Corporation and institutions are buying Bitcoin and HOLDING, as are the sensible little people like you and me. You can see this Very clearly on the chart - BTC.D just cntinues to climb.
So where is the money for ALT season going to come from ?
The proposed increase of ETF's on ALT coins could push this in a very selected way. i.e. the proposed Litecoin ( THE original ALT COIN ) has been trying to push the price of LTC higher.
XRP is another
But this is NOT the ALT Season we all expereinced in previous cycles and, infact, if you look close, you will see that ALT season has been getting smaller and smaller.
It was once said that Crpyto was a bubble that Will burst like the Dot Com bubble........and I think we may see this......the rubbish ALT coins falling away and the BTC and utility ALTs coming through.
But no ALT Season as we once knew...........OR WILL TRUMP MAKE IT HAPPEN ?
Only time will tell
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.