While most look at historical patterns and Bitcoin dominance, Bitfinex analysts say that the start of an altcoin season may hinge on the launch of crypto ETFs.
Altcoins may not see a broad, outsized rally until the approval of crypto ETFs that give investors exposure further down the risk curve, according to analysts from Bitfinex.
Crypto market participants have eagerly awaited an altcoin market rally, or “altseason,” as Bitcoin (BTC) dominance dipped 6% over the past 30 days.
However, Bitfinex analysts said in a markets report on Monday they don’t anticipate a “‘rising tide lifts all boats’ environment” until later in the year when inflows into Bitcoin products regain momentum and new investment vehicles for altcoins are introduced.”
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