A prominent crypto trader, Michaël van de Poppe, founder of MN Trading Capital, has dismissed concerns that the altcoin market is heading into a bear phase, asserting that the altcoin season has not yet begun. He highlighted that many altcoins remain near their local price bottoms and predicted that the next 12-24 months will see a significant rally, describing it as an "easy" final phase of growth.
Van de Poppe's views come despite recent Bitcoin (BTC) traders calling for a market pullback after its record high of $111,970 and sustained positive weekly momentum. Other analysts and crypto traders share Van de Poppe's optimism, with some suggesting altcoins are poised to experience a "wildfire" of gains soon. This view is supported by recent bullish returns in altcoins and a decline in USDT stablecoin dominance, often a precursor to altcoin rallies.
Notably, Solana (SOL) has gained 17.84% in the last 30 days, trading at $175.17, though still down 32% since January 19, coinciding with the launch of the Official Trump coin which pushed SOL to an all-time high of $261. XRP also posted modest gains of 1.98% over the past month, trading at $2.31 but remains down over 29% since January.
Market participants often look to Ether (ETH) outperformance relative to Bitcoin as a signal for altseason onset. The ETH/BTC ratio has increased by 26.74% over the last 30 days, signaling strengthening altcoin momentum, although CoinMarketCap's Altcoin Season Index still indicates a market bias toward Bitcoin with a score of 24/100.
Additionally, some smaller altcoins have posted remarkable 90-day gains, with Fartcoin (FARTCOIN) leading the top 100 by a 316.72% increase, followed by Four (FORM) at 148.15% and Virtuals Protocol (VIRTUAL) at 107.47%. These strong performances underscore growing enthusiasm for altcoins despite dominant Bitcoin trends.
While this article does not offer investment advice, it highlights a general market sentiment that altcoin dominance may soon surge, marking a potential turning point in the cryptocurrency market cycle.