Jakarta, Pintu News – Bitcoin’s upward rally to $111,970 has rekindled hopes of a long-awaited alt-season.
Although the crypto king is leading this rally, analysts warn that the altcoin market is not fully ready to follow suit-at least for now.
The rest of thisbull cycle will most likely depend on one crucial signal: a decline in Bitcoin’s dominance, potentially triggering a massive rotation into altcoins.
According to crypto analyst Kyledoops of Crypto Banter, the current Bitcoin market cycle is estimated to have reached around 75-80%, with the last 20% potentially bringing an explosive price surge.
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In a recent podcast, he projected a strong Wave 3 movement that could push Bitcoin price to the $125,000-$130,000 range in September, supported by bullish indicators such as Market Cipher B, increased fund flows, and the appearance of green dots on the weekly chart.
With the S&P 500 index and other major stocks setting all-time record highs, Bitcoin seems poised to follow this upward momentum. However, for altcoins to really rally, a decline in Bitcoin’s dominance-which is currently nearing the top of a rising wedge pattern in the 66%-69% range-is considered essential.
Rejection of these levels, according to analysts, could mark the beginning of the real alt-season.
Although the broad strength in the altcoin market is still not fully visible, some tokens are starting to show bullish movement patterns:
Some meme coins show significant movement:
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Kyledoops emphasizes that most altcoins are currently still in the accumulation phase, and a massive rally is not likely until Bitcoin’s dominance weakens and the SPX500 index confirms continued momentum.
Although the market structure towards the alt-season is taking shape, analysts caution that timing is everything.
The next few months could be a golden opportunity-but only for those who are patient and keep a close eye on key indicators.
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