Cryptocurrency analyst Miles Deutscher claimed that the altcoin season has begun, based on data from an artificial intelligence model and a custom dashboard.
In his YouTube video, Deutscher noted that, contrary to the popular altcoin season index, the current market situation signals a positive period for altcoins.
According to the analyst, approximately 70% of the top 50 altcoins are outperforming Bitcoin on a monthly basis.
Deutscher suggested that Bitcoin's dominance falling below a key support level for the first time since November 2024 has led to a shift in market momentum.
He noted that the primary driver behind this shift is growing positive sentiment toward Ethereum.
He argued that ETH ETFs, new regulatory frameworks, and institutional interest are boosting Ethereum, providing the necessary “firepower” for a broader altcoin market rally.
Related News: Watch Out: Jim Cramer Spoke About Bitcoin and Ethereum! Will it be Inverse Cramer Again? He also added that he studies the charts against ETH to track the performance of altcoins relative to Ethereum.
Chart with daily candles showing the latest state of Bitcoin dominance. *This is not investment advice.
Continue Reading: Renowned Analyst Claims: “The Altcoin Season Has Begun” – Here Are His Opinions.
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