Krutika Adani
The 2024 alt season was expected to happen after the launch of Ethereum ETFs. However, after a lukewarm launch, the ETF could not greatly impact the markets.
An alt season is a period of increased market gains during which altcoins exceed Bitcoin's gains.
The main indicator of an altcoin is Bitcoin’s decreasing domination. However, lately, Bitcoin has reached its highest dominance level, 55.4%, in 2024.
If the market conditions with increased Bitcoin dominance persist, we might not see an alt season in this bull run.
The top 5 cryptos for an alt season would be Ethereum, Solana, Polygon, Pepe and dogwifhat.