FET, AAVE, DOGE lead altcoin accumulation – Will it trigger a new altseason?

Key Points

1. CryptoQuant analyst Joao Wedson noted massive accumulation in altcoins such as AAVE, DOGE, MKR, LINK, and FET, indicating potential price surges.

2. Swissblock data suggests an early altcoin recovery cycle, with 15% of top 100 altcoins showing positive impulse signals, similar to trends observed before November's rally.

3. USDT dominance has declined from 5% to 4.5% since late April, signaling increased buying pressure as traders move away from stablecoins into altcoins.

4. The ETH/BTC ratio surged 10% this week, reflecting a possible rotation from Bitcoin to Ethereum, though it currently faces resistance at the 200-day SMA.

5. A sustained rally above the 200-day SMA for the ETH/BTC ratio could further boost altcoin recovery, while a drop may cap the market's upward momentum.