Altseason is here

The recent dip spurred some fears but so far the sell-off didn’t spread beyond Bitcoin. ETH, BNB, and many other cryptocurrencies already recouped most losses.

The usual weekly questions to Hybrid Intelligence can help to gauge the trend:

“Bitcoin crypto market share settled at 51.91% at 12:30 PM UTC on Wednesday, April 21. Will Bitcoin's market share climb above 52.95% (+2%) earlier than drop below 50.87% (-2%)? (forecast 51-100% - bull scenario. 0-49% - bear scenario)”
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Assurance: 11%

This means BTC dominance will likely drop further. Last week it already dipped below 51% and now that looks like the resistance level.

Another question is helpful for estimating the overall trend:

“The cryptocurrency Market Capitalization settled at 1991B USD at 12:30 PM UTC on Wednesday, April 21. Will the Market cap climb above 2140.3B USD (+7.5%) earlier than drop below 1841.7B USD (-7.5%)? (forecast 51-100% - bull scenario. 0-49% - bear scenario)”
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Assurance: 70%

This is a bullish sign for altcoins. The $2 trillion level now looks solid with many assets being quickly scooped at discounted prices.

Together these indicators point to another altseason. With a firm support level and a relatively limited range for BTC, many traders will search for moonshots among other cryptocurrencies.