#API3# Bitcoin Halving ago or facing the last drawdown!AltCoin chance coming?

Bitcoin's dominance remains strong, with a Market Cap of 52%, but on-chain and technical data suggest that the AltCoin Spring may be coming.
Bitcoin experienced a sharp pullback on February 20, falling as much as 4% from an intraday high of $53,019 to a low of $50,812, nearly erasing the gains of the past seven days. This pullback has caused traders to reassess the general state of the Crypto Assets market, sparking debate about whether altCoin season has arrived.
What is the reason for the Bitcoin price pullback?
Traders and market analysts believe that the market in the Bitcoin Halving cycle is divided into five phases, which Halving occur before experiencing a sustained price plunge and pullback, and then entering a widely expected Halving followed by a parabolic rise trend.
Crypto Assets trader and analyst Rekt Capital said on Feb. 15 that Bitcoin has a "retracement before the last halving" before resuming its rise.
Independent market analyst Sjuul noted that Bitcoin's financing Intrerest rate is high, warning traders that a "full correction is expected." However, he also pointed out that
"In my opinion, this is the dip-buying opportunity we are all looking for to Buy the Dips. ”
Stable Coin holders with $10,000 to $100,000 have increased their holdings of USDT by $44.3 million over the past two weeks. This suggests that they may be ready to buy the dips on a pullback. Market intelligence firm Santiment believes that large moves by mid-sized traders are often an excellent signal for profit-taking and Buy the dips.
Spring for AltCoins?
AltCoin has performed well over the past 12 months, achieving double- or even triple-digit gains, with some outperforming Bitcoin.
According to CoinMarketCap, Bitcoin is up 107% over the past 12 months, Solana (SOL) is up 308%, Avalanche (AVAX) is up 80%, and Chainlink (LINK) is up 136%.
The latest data from on-chain analytics firm Glassnode shows that Bitcoin's year-to-date performance has outperformed the AltCoin market as a whole. Alice Kohn, an analyst at Glassnode, said:
"The total Market Cap of AltCoins has not experienced the same increase, with year-to-date growth less than half that of the two major currencies. ”
Glassnode noted that Bitcoin continues to show dominance, with "current monthly capital inflows of around $20 billion." Since October 2023, Bitcoin's dominance has continued to grow, with the relative Market Cap soaring by 1000%.
"It is clear that the downward flow of capital down the risk curve into AltCoin is slower than the rotation between the two main Crypto Assets, and this trend appears to be playing out again," the report states...... Bitcoin continues to lead, accounting for more than 52% of the total Market Cap of digital assets. ”
How far is the "cottage season" Long?