Altcoin Season on the Horizon? MEXC's Tracy Jin Sees the Signs

Listen up, crypto fans! Tracy Jin from MEXC is sounding the alarm on a potential altcoin season. She's spotting clues like Bitcoin's dominance taking a nosedive and Ethereum strutting its stuff with some serious gains.

Buckle up, because Bitcoin (BTC) has just slammed the brakes on its late 2024 rally. Its market cap share plunged to 61.3% on Tuesday, May 13, down from a near 65% just last week. That's a big deal, folks!

Tracy Jin, the COO of MEXC, isn't just seeing this as a blip on the radar. She's calling it a clear sign that altcoin season might be sneaking up on us. And guess what? Traders are ditching their stablecoins faster than you can say "HODL," while altcoins are suddenly the life of the party.

"Bitcoin dominance just took a nosedive — from 65% down to 62% — while the altcoin market cap skyrocketed $300 billion in a flash. That kind of shift doesn't happen without a reason. The usual early signals are flashing: USDT dominance is dropping, altcoin charts are looking healthier, and sector leaders like Monero, Sui, and Bittensor are heating up," says Tracy Jin from MEXC.

Ethereum Surges 10%, Sees Rising ETF Inflows

Hold onto your hats, because Ethereum (ETH) is also throwing its hat in the altcoin ring. On May 13, it rocketed up 9.99% in a single day and is now up over 50% in just one week, soaring from $1,778 to $2,696. That's some serious firepower!

"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 reignited interest in ETH and smaller altcoins," says Tracy Jin from MEXC.

Now, Jin admits we're still technically in "Bitcoin season," but she's betting this could be the start of a major shift. Traders are hungry for bigger returns, and many are eyeing Bitcoin as overbought. That's why sectors like AI, privacy, and DeFi could be the next big winners in the coming weeks. Get ready, because things are about to get wild in the crypto world!