Cryptocurrency analyst Kevin Svenson pointed out an important Bitcoin (BTC) metric in his recent analysis that gives bullish signals for the altcoin market. According to Svenson, the decline of Bitcoin dominance, which is the ratio of BTC's market cap to the market cap of other crypto assets, indicates that "altcoin season may be upon us."

According to Svenson, Bitcoin dominance is starting to fall below the trend line and this could be a positive sign for altcoins. This situation may draw the attention of investors in this direction and cause these assets to gain value. In particular, the fact that Total3, the total altcoin market cap, found support despite Bitcoin's recent decline is seen as a sign that sellers in this area are exhausted and the expected season may have begun.
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