Altcoin season has begun!

Data from IntoTheBlock suggests that altcoin season has begun after Bitcoin’s market dominance began to wane despite hitting a record high of over $103,500.

The price of Bitcoin and other cryptocurrencies surged following the US election.

Bitcoin’s dominance gradually declined after that, opening the way for altcoins to surge.

Ethereum, for example, rose above $4,000 for the first time since March, posting strong performance alongside coins like XRP, DOGE, HBAR, and XLM.

CoinGecko data shows that Bitcoin has seen a modest 32% gain in the past month, compared to the massive gains of some altcoins like HBAR, which rose 612%, and XLM, which rose 403%.

Experts expect this altcoin season to be different, with a handful of coins outperforming expectations, reflecting a shift in market dynamics.