Bitcoin’s Market Share Slips as Investors Rotate Capital Into Altcoins
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- Bitcoin dominance has dropped significantly.
- A drop in Bitcoin dominance signals a momentum buildup for an altseason.
- The altcoin market cap has surged to $1.55 trillion.
According to a cryptocurrency analyst on X, there is an altseason momentum buildup, reflected in a significant drop in Bitcoin dominance. In his latest post, the analyst noted that Bitcoin dominance has dropped to its lowest level in nearly eight months, a development that could signal a potential altcoin season.
How Much Has Bitcoin Dominance Fallen?
Data from TradingView shows a significant decline in Bitcoin’s market share since late June. The key metric dropped from a peak of 66.03% on June 25 to 57.69% as of August 24.
This decline reflects a clear power shift in the crypto market. The move follows a period where Bitcoin dominated the headlines and saw massive capital inflows that pushed its price to a new all-time high of $124,517. While Bitcoin led the rally, several altcoins like XRP, which h…
The post Bitcoin’s Market Share Slips as Investors Rotate Capital Into Altcoins appeared first on Coin Edition.
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