MEXC Points to Bitcoin Dominance Drop and Ethereum's Surge as Signs of a Coming Altcoin Season

Tracy Jin of MEXC points to several signs of a potential coming altcoin season, including falling Bitcoin dominance and Ethereum’s strong performance.

The crypto market is showing several signs that an altcoin season could be coming soon, according to Tracy Jin, COO of MEXC.

Bitcoin's dominance has taken a significant dip

After gaining momentum in late 2024, Bitcoin (BTC) dominance has taken a significant dip, suggesting a potential shift toward an altcoin season.

On Tuesday, May 13, Bitcoin’s share of the total crypto market cap fell to 61.3%, compared to nearly 65% last week.

According to Tracy Jin, COO of MEXC, this is just one of several early indicators that an altcoin season may be approaching. At the same time, traders appear to be cycling out of stablecoins, while individual altcoins are seeing a surge in interest.

“Bitcoin dominance just took a noticeable dip — from 65% down to 62% — while the altcoin market cap jumped $300 billion in a matter of weeks. That kind of shift doesn’t happen without reason. The usual early signals are flashing: declining USDT dominance, improving price structure on altcoin charts, and rising interest in sector leaders like Monero, Sui, and Bittensor,” Tracy Jin, MEXC

At the same time, Ethereum (ETH) also took a significant step, signaling growing interest in altcoins. It jumped 9.99% on May 13, marking the biggest single-day gain since February 2024.

In the past week alone, Ethereum has surged more than 50%, rising from $1,778 to $2,696.

“Ethereum’s performance is another signal pointing to the potential start of altseason. While large short positions among ETH traders and persistent bearish sentiment previously indicated a continuation of the downtrend, a surge in risk appetite has renewed interest in ETH and smaller altcoins,” Tracy Jin of MEXC

While Jin notes that we are still technically in “Bitcoin season,” she believes this may mark the beginning of a reversal.

As traders now seek higher returns and many may view Bitcoin as overbought, sectors like AI, privacy, and DeFi could emerge as the biggest gainers in the weeks ahead.