Altseason Looms as Bitcoin Holds $90K and Analysts Spot Classic Breakout Signals
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- Altseason signals emerge as Bitcoin dominance weakens and technicals show momentum.
- Analysts expect altcoins to rally after Fed rate cuts and Bitcoin’s $90K stabilization.
- TOTAL2 and BTC.D charts hint at a coming altseason as macro conditions shift bullish.
The crypto market is seeing anticipation as several technical indicators suggest an altcoin season may be imminent. With Bitcoin’s recent performance stabilizing above $90,000, market watchers shift their focus to the potential for altcoins to outpace BTC in the coming weeks.
According to Merlijn The Trader analysis, he highlighted a classic pre-altseason signals, stating that every major altseason started with a breakout structure and the RSI heating up. He specifically pointed to the TOTAL2 chart, which tracked the total market capitalization excluding Bitcoin, as evidence of building momentum.
In a follow-up analysis, Merlijn emphasized patterns in the Bitcoin dominance chart ($BTC.D) and shared what he calls “a perfect descending triangle.” This technical formation usually signals bearish sentiment for the asset being tracked. In this case, it is Bitcoin’s market share relative to other cryptocurren…
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