Search volumes for the term ‘altcoin season’ went parabolic on Wednesday, signalling incoming price rallies across the altcoin market. Meanwhile, the Others altcoins market cap chart indicates the possibility for a 50x rally thanks to a setup that looks exactly like the one that preceded the previous altcoin season.
Google Searches For Altcoin Season Explode
The search volume for the term “altcoin season” soared high on Wednesday to indicate the growing interest about the inevitability of capital rotating from Bitcoin to alternative cryptocurrencies. The spike in activity comes at a critical juncture when Bitcoin’s dominance has dropped to around 59%. Ethereum (ETH) price has already begun to show signs of strength. The world’s second-largest cryptocurrency gained 3.42% over the past week, reclaiming the $4,000 mark.
Technical Setup Reveals 50X Altcoin Price Rallies
The OTHERS altcoins chart appears to be nearing the end of a long consolidation phase just as it did during the last major breakout. According to CryptoElites, the market is coiling tightly inside a symmetrical triangle in preparation for a powerful rally ahead. In the previous cycle, this exact setup acted as a springboard for a historic rally, catapulting the altcoin crypto market by roughly fiftyfold. That explosive surge followed months of quiet accumulation, a period when sentiment was low, and few anticipated the magnitude of the move that followed.
At the time of writing, the bull fractal shows the altcoins ‘ chart shares a resemblance with the setup that preceded the previous altcoin season rally. The setup was characterized by a well-defined bottom, tightening price action, and early signs of momentum shifting upward. If the pattern plays out as per Crypto Elites’ analysis on X, the next breakout is likely to trigger another wave of altcoin dominance and possibly ignite the beginning of the altcoin season. Bitcoin is already consolidating around $113,000 and liquidity seems to be gradually rotating toward smaller-cap assets. As such, the crypto market may be setting the stage for this season’s altcoins rally.
Bitcoin Dominance Chart Also Shares Similarities With The Previous Cycle
According to expert analyst Mags, the current Bitcoin dominance structure appears similar to what unfolded during the 2021 cycle. In 2021, Bitcoin dominance reached a local peak before sharply declining, paving the way for one of the most explosive altcoin seasons in recent memory. Today, that same setup appears to be re-emerging with dominance testing a major descending trendline. This trendline has been acting as a resistance level that has capped Bitcoin’s relative strength against altcoins for years.
According to the chart, we are positioned almost identically to where we were before the 2021 altcoin boom. Each time Bitcoin dominance reached this long-term resistance, it lost ground rapidly as capital rotated into alternative digital assets. The green highlight on the chart suggests that such another decline may already be underway, marking the early phase of what could become a significant altcoin expansion. Technically, the pattern is compelling. The rejection from the downtrend line, coupled with early signs of weakening momentum, hints that Bitcoin’s share of the total crypto market may soon fall. If history repeats itself, this move could unlock the next phase of the market cycle.