Are we at the beginning of the altcoin season?

The cryptocurrency market is abuzz with speculation as signs point to an impending altcoin season. Market experts suggest that the stage is set for a major rally in altcoins, driven by positive developments such as the expected approval of a Spot Ethereum ETF by the US SEC in July. Additionally, new ETF filings for Solana by VanEck and 21Shares also fueled sentiment.

Whereas this growing optimism among both investors and analysts could mark the beginning of a new situation high season.

Market Trend Signals Towards the Start of Altseason

Recent market developments have sparked excitement for an altcoin season, where altcoins outperform BitcoinKey factors include the expected approval of a Spot Ethereum ETF by the US SEC in July, along with new ETF filings for Solana by Van Eck

and 21Azioni. In particular, these events are seen as potential catalysts for an altcoin rally, as they signal growing institutional interest and regulatory progress.

Meanwhile, to further fuel the discussions, several market experts have offered a bullish outlook heading into the altseason. For context, prominent crypto analyst Crypto Rover recently sparked discussions about X by highlighting a chart comparing altcoin and Bitcoin seasons.

Sharing the chart, he said, “Altcoin season is upon us.” His analysis suggests that the altcoin market is poised for significant growth, supported by favorable market conditions and historical trends.

Source: Crypto Rover, X

Likewise, Captain Faibik shared an optimistic attitude market capitalization chart for altcoins, predicting an increase to $2.3 trillion. He acknowledged the challenges faced by altcoin holders, with altcoins down 40-50% recently.

However, he stressed that these corrections are necessary for a healthy trend. Faibik highlighted the robust gains achieved altcoins from October last year to March 2024, while acknowledging the correction phase recorded in the last three months.

Furthermore, the analyst even recommended buying altcoins for a dip and holding them for the next four to six months. He concluded his post by saying, “Q3 and Q4 will be epic for altcoins.”

Source: Captain Faibik

Read also: ADA nears $0.7 breakout ahead of Chang update

Featured ETH/BTC Chart

The optimism is further fueled by insights from other cryptocurrency experts. Ali Martinez recently shared a bullish outlook for the altseason, comparing ETH/BTC chart and noticing the first signs of an alternative season.

In his post His analysis suggests that Ethereum’s performance relative to Bitcoin is a strong indicator of the potential of the broader altcoin market.

Source: Ali Martinez, X

Meanwhile, the current sentiment echoes previous altseasons, where altcoins have historically outperformed Bitcoin in certain market cycles. Anticipation of new financial products such as Ethereum spot ETF and Solana’s ETF filing is seen as a key driver of this potential altseason.

In particular, these products are expected to attract more institutional investment, improving market liquidity and driving up altcoin prices.

Read also: Could Solana Mimic Ethereum and Reach $1,000? Analysts Weigh In

Source