The cryptocurrency market is registering clear signals of a significant change in the behavior of investors, with a capital rotation that could be announcing the arrival of a new “Altseason”.
This market phase, characterized by a strong impulse in cryptocurrencies that are not Bitcoin (BTC), seems to be taking shape as the month of September is approaching, A historically positive period for digital assets.
In recent months, Bitcoin dominance in the cryptocurrency market has shown a downward trend. Of 65% registered in May and June of this year, it fell to approximately 59% this August 15, according to the data of tradingview.
This decrease has coincided with a rebound in other cryptocurrencies, especially in Ethher (ETH), which rose to $ 4,780 this week, approaching its historical maximum of USD 4,891, last reached in November 2021.
For the largest exchange analysts in the United States, Coinbase, this movement could be giving way to a capital rotation towards other cryptocurrencies, What is a clear sign of the beginning of an Altseasonin their opinion.
Coinbase was based on the Altseason index of CoinmarketCap, which is currently at 42 points, suggesting That the Altcoins season is still far.
However, they highlighted the growth in the capitalization of cryptocurrencies (not counting Bitcoin), which has exceeded 50% since the beginning of Julymoving from 1.2 billion and reaching 1.4 billion dollars in mid -August, as can be clearly seen in the following Coingcko graph:
Taking into account the previous one, from that company stood out:
“We believe that current market conditions have begun to indicate a possible rotation towards a large -scale Altseason as we approach September.”
Coinbase, cryptocurrency exchange.
As defined by cryptootic cryptopedics, Altseason is a term used in the cryptocurrency market to describe a period in which cryptocurrencies experience a significant increase in their value and performance, surpassing Bitcoin himself.
Macroeconomic and regulatory factors such as drivers
Several macroeconomic and regulatory factors are influencing this market turn. Coinbase emphasizes that, since the last fall in Bitcoin dominance, the cryptocurrency market has seen a considerable increase in interest, and the liquidity offer is beginning to recover.
They remember from that exhange that the increase in the global money supply (m2) It usually impacts directly on the price of Bitcoinwith a distance range of approximately 110 days. In the following graph provided BGEOMETRICS It can be seen that BTC closely follows the movement of the global M2.
In that order of ideas, coinbase analysts project a new wave of potential global liquidity at the end of the third quarter of the year and principles of the fourth, which would benefit Bitcoin and, consequently, cryptocurrencies.
Now, from Coinbase they clarify that, although capital rotation to cryptocurrencies is evident, The market has not yet reached a large -scale Altseason.
However, they believe that the recovery in liquidity, combined with the expectations of cuts in the interest rates by the Federal Reserve of the United States in September and October, could be pressing investors to move capital towards higher risk assets, such as cryptocurrencies.
In the opinion of analysts, that could accelerate the transition to a full Altseason, especially when institutional investors feel more comfortable with the regulatory framework of digital assets.
Gain and growth opportunities in cryptocurrencies
The Altseasons, historically, have provided great profit opportunities for investors. During these phases, cryptocurrencies often experience significant price leaps, as capital moves towards assets that, in many cases, They have a greater potential for appreciation in relation to Bitcoin.
This phenomenon occurs partly because, as institutional capital tends to concentrate on BTC, retail investors seek alternatives with less market capitalization, but with greater growth potential.
The Altcoins such as Solana (Sol), Dogecoin (Doge) and other lower capitalization cryptocurrencies have begun to show relevant increases in recent weeks. Sol, for example, rose 14% in the last month, while Doge increased by 11.9%, in the same period, coinciding at a time when BTC has experienced lateralized between USD 110,000 and 120,000 dollars.
In that sense, the fall in Bitcoin dominance and the strengthening of cryptocurrencies in the last month are marking the beginning of a possible Altseason. While the current conditions do not suggest a complete altseason yet, the indicators suggest that this period could be about to take off, and market signs, backed by macroeconomic and regulatory factors, suggest that capital rotation towards other cryptocurrencies is only the beginning.
