Altcoin Season Expected to Ignite in June as Bitcoin Dominance Weakens, Analyst Predicts
Joao Wedson, CEO of Alphractal, signals that the crypto market may soon shift gears as Bitcoin’s grip on the market softens, setting the stage for a potential altcoin rally next month.
According to recent data from TradingView, Bitcoin’s dominance — the share of the total crypto market cap held by BTC — has declined from about 65% to 62% within a single week, ending a five-month streak of increasing control. During that same period, total crypto market capitalization jumped from $2.9 trillion to $3.24 trillion, highlighting rising interest in alternative digital assets.
Wedson’s proprietary altcoin season index, which tracks performance across 57 major altcoins, reveals that 37 have outpaced Bitcoin’s gains over the past 60 days, signaling that altcoins are gaining steam.
“Even if Bitcoin sees some downward pressure soon, most altcoins have already hit their lows and are positioned for growth,” Wedson said in a post on X. “We anticipate a portion of Bitcoin’s $2 trillion market cap will rotate into altcoins, so it’s critical to watch altcoin-to-Bitcoin pairs like ETH/BTC for signs of strength.”
However, some broader indicators caution that the overall bull market still remains Bitcoin-led. CoinMarketCap’s altcoin index for the top 100 coins remains at a level indicative of “bitcoin season,” underscoring Bitcoin’s continued market dominance.
