Participants in the cryptocurrency market are eagerly anticipating the start of an altcoin season. However, short-term volatility is not on the horizon. Ethereum’s lackluster performance, coupled with investors’ tendency to seek refuge in stablecoins, is hindering altcoin recovery. The decline of the Altcoin Season Index to 45 has further postponed expectations. According to prominent market analysis, Bitcoin $98,251 dominance needs to exceed 70% for the market to gain new momentum.
Capital Shifts Toward Stablecoins
Recently, investors have favored stablecoins over altcoins. Analyst Ali Martinez attributes this trend to market uncertainty, resulting in capital flowing from Bitcoin and Ethereum
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