📢 Gate Square #Creator Campaign Phase 1# is now live – support the launch of the PUMP token sale!
The viral Solana-based project Pump.Fun ($PUMP) is now live on Gate for public sale!
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📅 Campaign Period: July 11, 18:00 – July 15, 22:00 (UTC+8)
🎁 Total Prize Pool: $500 token rewards
✅ Event 1: Create & Post – Win Content Rewards
📅 Timeframe: July 12, 22:00 – July 15, 22:00 (UTC+8)
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Bitcoin is strongly pumping but the alts season has not yet started, ETH breaking through may become a turning point.
In the current environment, Ethereum (ETH) breaking above $3,000 has become a potential catalyst. Once ETH continues to rise and boosts investor confidence, the alts season may start.
The significant rise of ETH is often seen as an "alts signal flare" because it has a stronger "capital guiding effect".
As of July 15, at the time of writing, Gate's market shows that ETH has slightly retreated, currently priced at $2,985.63, with a 24-hour drop of 1.73%.
Altcoin Season Index Remains Low, BTC.D Begins to Decline
According to market data, the current Altcoin Season Index is only 33, far below the threshold of 75 that marks the start of Altcoin Season (above 75 is considered Altcoin Season, below 25 is considered Bitcoin Season).
It is worth noting that the current BTC.D (Bitcoin market capitalization dominance) has started to decline slowly since June 27, with a cumulative drop of approximately 2.07%. Although the extent is not large, it has already had a preliminary impact on the market structure.
The total market capitalization of alts surpasses $1.25 trillion, with the next target pointing to $1.64 trillion
Technical analysis shows that the total market capitalization of altcoins has successfully broken through the key resistance zone — $1.25 trillion, which is a bullish signal. If the trend continues, the market is expected to challenge the December high of last year $1.64 trillion.
However, the premise is that Bitcoin still needs to rise further to lead the overall market sentiment and capital inflow.
BTC.D needs to further drop to 40% to confirm a typical altcoin seasonal trend
In past cycles, the altcoin season has often been accompanied by a sharp decline in Bitcoin dominance (BTC Dominance). In the last few months of 2017 and the first half of 2021, the share of BTC.D fell to around 40%. As of the writing of this article, the share of BTC.D is 64.65%, well below 40%. Therefore, it is unclear whether this cycle will be different; only time will tell.