Altcoin Market Shows Early Signs of Life as Bitcoin Dominance Wavers

The cryptocurrency market has been dominated by Bitcoin in recent weeks, with its price climbing above $81,000 and its market share increasing to over 61%. However, early signs of a potential altcoin season are emerging, with some tokens posting gains and others trading above their long-term moving averages.

According to data from Santiment, around 11.7% of altcoins on Binance have moved above their 200-day moving averages, up from just 2.3% in early February. This suggests that selling pressure is slowing down and buyers are starting to return to the market.

The rise in altcoins is still small, but it could be the beginning of a wider recovery. Bitcoin's dominance remains strong, but its recent slowdown may pave the way for an altcoin season. Trading activity for altcoins has also increased, with altcoin trading now accounting for around 49% of trading volume on Binance.