TL;DR

As BTC retreats slightly from its $123K peak, top altcoins like ETH and XRP continue to surge. One analyst believes the altseason may begin as early as this week, drawing comparisons to patterns observed in previous bull cycles.

Is It Finally Here?

Less than a week ago, bitcoin (BTC) reached a new all-time high price of approximately $123,000. Since then, though, the primary cryptocurrency has cooled off slightly, giving room for some of the leading altcoins to record substantial gains, too.

Over the past few days, Ethereum (ETH), Ripple (XRP), Stellar (XLM), Cardano (ADA), and many more have taken center stage thanks to their rapid price increases, while BTCs dominance has slipped below 61%.

BTC Dominance, Source: CMC These developments have led many in the crypto community to speculate that the altseason has either already begun or is just around the corner.

One popular X user who shared their thoughts on the matter is 0xNobler. The analyst claimed the next altcoin season could start tomorrow (July 18), arguing that the same thing was observed in 2017 and 2021:

Every altseason started on the same day, and this one wont be any different.

The X user suggested that the market is still in its early phase of an uptrend, with most capital concentrated in BTC and high-cap coins. Later, however, the interest could shift to smaller cryptocurrencies in terms of capitalization, while the dominance of the leader might continue to decline.

If this setup continues, the altcoin season could kick off next week, offering the best entry point. Ive witnessed this pattern in past cycles, and recognizing it early changed everything, the analyst added.

Additionally, 0xNobler said they would accumulate several cryptocurrencies ahead of the next rally. Some of the well-known names include Hyperliquid (HYPE), Sui (SUI), Render (RENDER), and more. 

More Opinions

Davinci Jeremie, a popular figure in the crypto space, widely known for urging people to buy BTC when its price was under $1, believes the altcoin season hasnt arrived yet. However, he cautioned that when it starts, most will be too late.

Altseason hasn’t started.

But when it’s here, most will be too late.

For his part, the veteran trader Peter Brandt argued that its already altseason. His thesis is based on the formation of a classical cup with handle on the chart, which shows the total market capitalization of all cryptocurrencies, excluding BTC.