Blockchain Center defines the altseason criterion as 75% of the top 50 cryptocurrencies outperforming Bitcoin over the last 90 days. Altseason periods are known for altcoins delivering rapid gains compared to Bitcoin during bull markets. However, the exact timing of this year’s altseason is still uncertain. 

Altcoin Market on the Rise 

The total altcoin market cap is approaching its all-time high from 2021, drawing close attention from traders. Crypto analyst “Daan Crypto Trades” stated that when altcoins return to price discovery, excitement across the market will increase. This trend is also expected to accelerate new investor participation. Karan Singh Arora noted that the altseason index is at its highest in nine months, and investors are turning back to risk-taking. 

According to TradingView, the total altcoin market cap excluding Bitcoin and stablecoins reached $1.63 trillion, approaching $1.64 trillion in November 2024 and $1.7 trillion in November 2021. Ash Crypto predicts that altcoins will show parabolic moves in the third phase of altseason. 

Top Performing Altcoins 

In the last 24 hours, Dogecoin (DOGE) and Avalanche (AVAX) showed the best performance. DOGE rose 5% to surpass $0.25, while AVAX gained 11% to reach $29, its highest since January. Hyperliquid (HYPE), Stellar (XLM), Litecoin (LTC), and Toncoin (TON) also saw gains above 3%. ACE coin, PIXEL, and NMR increased over 20%, making the altcoin market attractive for investors again. 

This altcoin rally is boosting risk appetite and encouraging investors to be more active. As the market continues to recover, investors are preparing to seize new opportunities, positioning altcoins for market leadership in the remaining months of the year. 

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According to the White House, both nations agreed to lower their respective tariffs by 24%, bringing them down to 10%, starting May 14. Speaking at a press conference in Geneva, US Treasury Secretary Scott Bessent emphasized that neither side wants to pursue further economic decoupling.

Bitcoin Nears Record High as Risk Sentiment Improves

Aurelie Barthere, principal research analyst at crypto intelligence firm Nansen, noted that the easing of trade tensions removes the risk of a “sudden re-escalation,” making room for risk assets to catch up with Bitcoin’s gains.

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“Bitcoin is already trading within 4.8% of its all-time high of $109,800,” she said. “With this trade breakthrough, altcoins, US equities, and the Dollar Index (DXY) are now well-positioned for a rebound.”

Barthere also pointed out that Bitcoin has outperformed traditional risk assets recently due to its independence from tariff-related vulnerabilities.

Tax Cuts Could Fuel Second Wave of Rally

Another major catalyst may be on the horizon. Bessent hinted that a tax relief package could be unveiled by mid-July. According to Barthere, this package would need to go beyond extending expiring cuts — it must also include new income and corporate tax reductions to sustain the rally.

Paired with emerging bull flag patterns on the weekly chart, analysts are already forecasting a potential surge in Bitcoin price towards $150,000, should all elements align.

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BNB Bounces Back!

Yesterday, BNB plunged from $620 to $500, causing concern among traders. However, today it showed remarkable strength, climbing back to $620 before settling around $580. This swift recovery has reassured investors about its stability.

Solana (SOL) Shows Impressive Gains

Solana (SOL) experienced a sharp drop from $220 to $172, leaving many in disbelief. But the recovery was just as fast! SOL surged back to $222 before stabilizing at $208. The rapid turnaround has restored confidence in the asset.

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Cardano (ADA) Hits Rock Bottom but Recovers Fast

One of the most dramatic crashes was seen in ADA, which dropped from $0.83 to $0.50. However, in a remarkable comeback, ADA quickly climbed back to $0.83 before stabilizing around $0.74. The price action highlights the coin’s volatility and strong investor support.

Dogecoin (DOGE) Joins the Recovery

Even Dogecoin (DOGE) wasn’t spared from the dip, plummeting from $0.30 to $0.20. But the meme coin proved its strength once again, surging back to $0.30 before settling at $0.27.

The crypto market’s quick rebound has reassured investors, but the question remains: Is this a temporary recovery, or are we heading toward new highs? Time will tell!

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