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Famous millionaire Raoul Pal said, "The biggest obstacle before the expected altcoin rally has been removed," and shared what he expects from now on!
Bitcoin (BTC), Ethereum (ETH) and altcoins have experienced a rise to heaven in the last two days, while Real Vision co-founder and CEO Raoul Pal made new statements regarding the altcoin season.
Raoul Pal stated that the dominance of Bitcoin, which is the biggest obstacle in front of altcoins, has reached its peak, arguing that the altcoin rally could be very close.
Macro analyst Pal stated in a post from account X that Bitcoin dominance has likely reached its peak, and that DeMark indicators have marked peaks for BTC dominance in daily, weekly, and monthly charts.
Pal, noting that the current BTC. D level is lower than the peaks of 2021 and 2017, stated that this situation is consistent with historical patterns.
He argued that this situation could indicate the next stage, known as the "Banana Zone," which represents a parabolic increase in altcoin prices and forms a banana-shaped curve on the chart.
However, not everyone agrees with Raoul Pal. Crypto analyst Mark Harvey believes that Bitcoin dominance could strengthen further due to increasing ETF inflows and institutional adoption. According to him, the current decline in BTC dominance is only temporary.
While Bitcoin dominance is falling, the CMC Altcoin Season Index is currently at 41. Although the Altcoin Season Index is at its highest level since February, it is still well below the 75 threshold for an altcoin season. This means that we are not yet in a full altcoin season.