Altcoin Season Falters as Bitcoin Dominance Surges

Altcoin season may be losing momentum, warn co-founders of crypto analytics firm Glassnode. Jan Happel and Yann Allemann, operating under the pseudonym Negentropic on social media platform X, caution their followers that the recent market correction may quickly dissipate any bullish sentiment.

The 'altcoin season' began in late November but has been followed by significant pullbacks in the last week. Glassnode co-founders suggest investors may adopt a more cautious stance towards altcoins unless Bitcoin surpasses its crucial psychological threshold of $100,000.

Currently, Bitcoin dominance is rising after briefly dipping, and altcoins struggle to maintain essential support levels. A resurgence in Bitcoin's dominance indicates a stronger environment for BTC.