The crypto market has rallied broadly, Thursday, thanks to two big updates

This new-found optimism quickly brought on the talk of an “altcoin season,” when altcoins rally outperforming Bitcoin.

The crypto market experienced a broad rally on Thursday, following two significant updates: President Donald Trump’s announcement of a 90-day pause on tariffs (except on China), and the U.S. SEC approval of options trading for Ethereum spot ETFs.

Ethereum (ETH) has experienced a nearly 18% increase in the last 24 hours, now trading above the $1,600 mark. Bitcoin (BTC) has also seen gains, rising by 8%.

This new-found optimism has quickly brought on the talk of an “altcoin season,” where altcoins rally outperforming Bitcoin.

Other notable altcoins like XRP, Cardano (ADA), Avalanche (AVAX), and Chainlink (LINK) are also showing impressive gains between 8% to 9%. Solana (SOL), Dogecoin (DOGE), and TRON (TRX) have jumped around 6% as well.

This surge comes as the total crypto market cap hits $2.59 trillion, with altcoins outpacing Bitcoin’s daily gains. However, Bitcoin dominance is currently over 63%, and when stablecoins are added, that number jumps to more than 72%.

This means most of the money in crypto right now is still in Bitcoin and stablecoins — not altcoins.

Related: SEC Approves ETH ETF Options; Price Eyes $1700 Resistance Test for April 11

Why Do Some Analysts Expect an Alt Season Now?

Timing might be key. A DeFi researcher has predicted that the next big altcoin season could start around April 10. That’s because in the past, altcoin rallies have usually started about a year after each Bitcoin halving.

The analyst also said this might be “the last real chance to buy altcoins at low prices before they surge.” Intriguingly, altcoin seasons in the past have lasted about 90 days—the same as Trump’s tariff pause.

Related: Crypto Ignores Trade War: Markets Rally Despite China’s 84% Tariff Hit on the US

Bitcoin Dominance Nearing Historic Ceiling

According to Rekt Capital, Bitcoin’s dominance is currently in a strong uptrend, hovering around 64%. Historically, when Bitcoin dominance reaches high levels and then begins to decline, altcoin rallies typically follow.