Analysts from Bitfinex believe altcoins won’t rally until crypto ETFs are approved, creating more risk exposure for investors. Bitcoin dominance is at 58.58%, with a “muted trajectory” in the current market. Speculation surrounds the launch of new crypto ETFs, as the Altcoin Season Index stands at 46 out of 100. The SEC delays decisions on various crypto ETF applications, including Truth Social’s Bitcoin-Ethereum ETF and Solana products. Bloomberg ETF analyst predicts the possibility of an ETF actively trading memecoins in the future.

Overall, the market awaits the approval of crypto ETFs to spark a broader altcoin rally. The Altcoin Season Index remains at 46, highlighting market uncertainty. The SEC’s delay on key crypto ETF applications adds to speculation about the future of cryptocurrency investments. Bloomberg’s ETF analyst hints at the potential for an actively traded memecoin ETF in the coming years. Investors are watching closely for signs of a full-scale altcoin season.

Read more at Cointelegraph: Altcoin Season May Hinge On More Crypto ETFs: Analysts