Analysts are expecting Ether and altcoins like XRP to stage a significant rally leading into Trump’s inauguration on Jan. 20, which also marks the last day of SEC Chair Gensler.
Bitcoin dominance has printed a significant signal for altcoin investors, that could see smaller cryptocurrencies rally during December and attract more investments ahead of Jan. 20.
Bitcoin (BTC) dominance, which measures the ratio of Bitcoin to the total value of the crypto market, has fallen to 56.1%, below its two-year support line, signaling that the market is “officially in altseason,” wrote popular analyst Mikybull Crypto, in a Nov. 30 X post.
In crypto slang, altseason, short for altcoin season, refers to the collective rally of cryptocurrencies besides BTC, which tend to benefit from Bitcoin’s declining dominance.
