Here Are Two Factors That Must Align for Altcoin Season To Kick Off, According to Glassnode Co-Founders
The co-founders of market intelligence platform Glassnode are identifying two catalysts that need to line up for altcoin season to officially kick off. In a new thread on the social media platform X, Glassnode and Swissblock co-founders Jan Happel and Yann Alleman – who together share the handle Negentropic – say that based on historical precedent, altcoin season could start if Bitcoin’s (BTC) dominance levels start to fell and its price stabilizes above $100,000. “Flashback to February 2021. In the last cycle, February kicked off altcoin season. Could it happen again? Two key factors must align: 1) Bitcoin dominance must decline. 2) Bitcoin must hold a stable price above $100,000. The scenario seems to be shaping up – will history repeat itself?” Source: Negentropic/X However, the duo goes on to note that the top crypto asset by market cap’s recent rise in dominance and price has delayed altcoin season. “Dominance: 58%+. Price: Hol...