The altcoin market has been declining since the 2024 bull run paused in March, but indicators suggest a potential recovery. Analysts point to the cumulative market capitalization of altcoins (TOTAL2) testing an eight-year trendline support, which is viewed as a bullish signal. Bitcoin (BTC) is also showing strength; a decisive close above its 2021 high could indicate a breakout. Another analyst highlights a potential breakout from a descending broadening wedge for TOTAL2, despite a recent dip. Meanwhile, Bitcoin dominance remains high at 59.56%, indicating it is still 'Bitcoin season'. Analysts suggest that altseason typically starts when Bitcoin dominance drops significantly, and current data shows only 29% of the top 50 altcoins have outperformed BTC recently. Watching for a reduction in Bitcoin dominance and an increase in TOTAL2 could indicate an upcoming phase of rising altcoin prices, potentially marking the onset of altseason in the coming months.

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