Is Altcoin Season Back? Discover the Top Gainers as Bitcoin Dominance Dips!

Altcoin season is officially upon us, with the altcoin season index showing a 12-month high of 82, indicating strong momentum among large and mid-cap altcoins. This surge comes as more tokens have significantly outperformed Bitcoin (BTC) over the past 90 days.

Top Gainers – HBAR, XRP, DOGE

The altcoin rally has been led by impressive gains from tokens such as Hedera (HBAR), Ripple (XRP), and Dogecoin (DOGE). In the past 90 days:

• HBAR has surged over 600%.
• XRP follows with a 402% increase.
• XLM recorded 515% gains.

In contrast, Ethereum (ETH) and Binance (BNB) have lagged behind Bitcoin, indicating a shift in market focus.

Source: Blockchain Center

A notable decline in Bitcoin dominance (BTC.D), which peaked at 60% on November 21 and has since dropped to 54%, has allowed altcoins to thrive as capital rotates into these assets.

Future Trends

If historical trends hold, the altcoin surge could continue. The OTHERS index, which tracks altcoins excluding the top 10, has gained ground against Bitcoin recently.

Source: Others/BTC, TradingView

CryptoQuant founder Ki Young Ju has cautioned that despite positive market sentiment, the influx of ETF players and institutions may change the dynamics of capital rotation. He stated:

“This alt season won’t be what you expected. It’s going to be weird and challenging. Only a chosen few will win the game.”

Analysts are also warning of a potential sell-the-news event during Trump’s inauguration in January 2025, suggesting that risk management strategies should be in place to protect capital.