Gold Rally Delays Altcoin Season 3.0 Ahead of September
Crypto analyst Michael van de Poppe warns that the ongoing gold rally is keeping investors in a risk-off mode, delaying the much-anticipated altcoin season. Gold has delivered an 8% return in September so far, outpacing all but Ethereum, which has gained 15%. Poppe points to a local top in gold as a turning point: once selling pressure eases, altcoin season could kick off, mirroring past four-year cycles that produced 100x–125x gains in low-cap tokens. The expectation of a Fed rate cut at the September 17 FOMC meeting and a drop in Bitcoin (BTC) dominance—currently around 56.4%—are seen as catalysts for a broader altcoin rally. Analyst Crypto Patel forecasts 5x+ runs on high-potential altcoins until BTC dominance falls to 40%–45%. Similarly, commentator 0xNobler highlights that major altcoin seasons historically begin in September, coining the term “Altcoin Season 3.0.” Traders are advised to monitor gold’s short-term peak and position for a potential shift to risk-on assets.
Neutral
The article highlights a prevailing risk-off sentiment driven by the gold rally, which is currently delaying the start of Altcoin Season 3.0. While medium-term catalysts—such as a potential Fed rate cut and declining Bitcoin dominance—point to a bullish scenario once gold peaks, the immediate market environment remains constrained. Historical patterns show altcoin seasons beginning in September every four years, but for now traders face muted price action until gold’s short-term top is confirmed.