The altcoin market cap is at a healthy level, the next bull run eyes new all-time highs. Altcoins such as Ethereum, Ripple, and Litecoin need to decouple from Bitcoin for an independent altseason. The cryptocurrency market capitalization recently crossed the $1 trillion level for the first time in history. However, the market value has dived to the current $910 billion following the massive retracement in Bitcoin price from highs above $40,000 to intraday lows of $33,344. While Bitcoin takes up the larger chunk of the market value, altcoins have also performed relatively well. Notably, Bitcoin’s dominance has been maintained under 70%. At the time of writing, altcoin’s market value stands at $280 billion, leaving Bitcoin with the larger $628 billion. Altcoin market capitalization still impressive During the ongoing bull run, the altcoin initial impulse wave hit $320 billion. A retreat has been embraced, but if the market value is to hold above $225 billion, the next bull cycle will likely elevate the altcoin market capitalization nearer to the new all-time highs. Altcoin market cap Altcoins, especially the major ones like Ethereum, Ripple, and Litecoin, is still massively correlated to Bitcoin. Over the last 24 hours, Bitcoin has plunged, losing nearly 20% of its value following a rejection from $40,000. Similarly, Ethereum tumbled in tandem with Bitcoin losing over 20% of its value to exchange hands at $1,040. Consequently, Ripple is down 25% and is currently trading at $0.26, while Litecoin has dropped to $136 on losing 25% of its value. This proves the altcoins’ correlation to Bitcoin is perhaps due to Bitcoin’s enormous market share. Therefore, the altcoin season is possible, but investors have to pay more attention to the tokens, which could diversify their investments. Breaking from Bitcoin will allow the tokens to chart their path while ignoring Bitcoin swings (consider the recent volatility to $42,000 and back to $33,000). According to a famous cryptocurrency trader, NebraskanGooner, it is essential to keep in mind possible technical corrections, conceivably sharp ones, before the altcoin season fully kicks in. Moreover, it may not be wise to go all-in on any entry because, as an investor, you need some extra funds to add on a dip. On the other hand, adding more during confirmed breakouts tends to yield fast and stress-free gains. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Gold Price Analysis: XAU/USD to post additional losses with a daily close below $1,840 FX Street 1 year The altcoin market cap is at a healthy level, the next bull run eyes new all-time highs. Altcoins such as Ethereum, Ripple, and Litecoin need to decouple from Bitcoin for an independent altseason. The cryptocurrency market capitalization recently crossed the $1 trillion level for the first time in history. However, the market value has dived to the current $910 billion following the massive retracement in Bitcoin price from highs above $40,000 to intraday lows of $33,344. While Bitcoin takes up the larger chunk of the market value, altcoins have also performed relatively well. Notably, Bitcoin's dominance has been maintained under… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.