Crypto analyst Josh Olszewicz believes the altcoin market might be ready for a shift, but it hinges on Bitcoin's (BTC) next move. Right now, BTC is holding strong near its all-time highs, which keeps altcoins in wait-and-see mode.
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For altcoins to rally, BTC must maintain its bullish stance or break into new highs. This environment of uncertainty is fueled by the upcoming U.S. election and anticipated market volatility.
Josh highlighted that BTC's dominance has been strong since 2023, meaning Bitcoin-based portfolios have outperformed altcoin-heavy ones. He pointed out that for a true alt season to kick off, we’d need to see U.S. liquidity increase - a signal not yet evident.
Despite some speculative assets showing signs of life, most altcoins are still under bearish pressure, with few breaking key technical indicators like the 200-day moving average. For now, alt investors should watch BTC's moves closely, as it remains the market leader.
