In the shadowy corridors of the crypto world, where fortunes are made and lost in the blink of an eye, the rise of Bitcoin dominance above 64% has cast a long, dark shadow over the hopes of altcoin enthusiasts. Daan Crypto, a self-proclaimed oracle of the blockchain, has delivered a sobering analysis, suggesting that the altcoin season is as elusive as a mirage in the desert. With many altcoins facing relentless selling pressure, the accumulation of Bitcoin continues unabated, leaving the altcoins gasping for breath.
In a recent post on X, Daan Crypto proclaimed that Bitcoin’s dominance shows no signs of retreating. As treasury companies scramble to hoard Bitcoin like it’s the last slice of pizza at a party, the dreams of an altcoin renaissance fade into the ether. The altcoins, burdened by significant unlocks and a downward spiral of momentum, seem to be on a one-way ticket to obscurity.
Ah, but let us not forget the short squeeze on Ethereum last month! A fleeting moment of glory that swept many coins along, only to be followed by a swift and merciless decline. Daan Crypto lamented the lack of sufficient spot bids to lift these beleaguered coins, leaving them stranded in a sea of despair.
As the crypto landscape shifts, Daan Crypto urges investors to tread carefully. Most altcoins, he warns, are destined to underperform against Bitcoin over the long haul. The Bitcoin dominance, it seems, is on a relentless upward trajectory, while the altcoin season remains a distant dream, perhaps best left for the pages of a fantasy novel.
In essence, the altcoins are suffering from a severe case of neglect, lacking the interest and capital needed to ignite a season of prosperity. Meanwhile, Bitcoin thrives, buoyed by the massive adoption from institutional investors eager to embrace the latest strategies or gain exposure through Bitcoin ETFs. The data from BlockchainCenter is clear: it is still Bitcoin season, and the altcoin season is nowhere in sight. For it to arrive, a staggering 75% of the top 50 coins must outperform Bitcoin over the last 90 days. Alas, only ten have managed to do so.
Yet, there is a glimmer of hope! In another post, the crypto analyst Astronomer assures us that the altcoin season is indeed on the horizon, albeit at a snail’s pace. He notes that while the prices of these altcoins remain stagnant, nothing has fundamentally changed. The grand plan involves Bitcoin maintaining its range until the end of June, while altcoins linger in their own little worlds.
Astronomer insists that for the altcoin season to materialize, Bitcoin must break free while its dominance remains below 65%. Patience, he implores, is a virtue in this volatile market, and he remains steadfast in his belief that the altcoin season will eventually arrive.
As of now, Bitcoin trades at approximately $107,300, a modest increase in the last 24 hours, according to CoinMarketCap. The crypto saga continues, with twists and turns that would make even the most seasoned soap opera writer envious.
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2025-06-17 21:45