Altcoins Poised For December Gains As Bitcoin Loses Ground: Analyst

Although Bitcoin remains the world’s top digital asset, its price oscillating between $90k and $96k this week, some experts are looking ahead and beyond Bitcoin.

According to some crypto commentators over Twitter/X, Bitcoin’s market dominance is dipping, which means that altcoin season is about to start. In a post by MikyBull Crypto, Bitcoin’s market dominance falls below its two-year support line, creating plenty of opportunities for holders and traders.

According to TradingView, Bitcoin’s current dominance is 56.67%, from last week’s 57%, breaking through its support level for two years. Analysts say that the continuous dip in Bitcoin’s dominance will impact the general crypto market this December and onwards.

On-chain and market data suggest that altcoins are poised for a market run, with MikyBull Crypto saying that its season started November 30th.

Wow, Bitcoin dominance has just broken down the 2-year support.

We are indeed officially in #ALTSEASON folks! https://t.co/IYfQF7P7XI pic.twitter.com/fVysBYuOKn

— Mikybull