Altcoin Season Rally Gains Momentum as Bitcoin Dominance Drops Below 59%

Bitcoin's dominance in the crypto market is weakening as its share of total market value has dropped below 59%. At the same time, altcoin trading volume is nearly four times higher than Bitcoin's. This shift has sparked talk of a broad 'Altseason.'

The drop in Bitcoin's dominance to around 58.9% marks an important milestone, slipping below the 60% level. Altcoin dominance has jumped by 16.7% to 8.75%, indicating that altcoins are taking a larger share of the market.

Glassnode data shows that altcoin spot trading volume has reached its highest level since September 2025, with 72.5% of tracked altcoins outperforming Bitcoin through September 23 compared to 39% during the August rally. This trend is also visible in major altcoins, such as U.S. spot Ethereum ETFs, which recorded six straight days of inflows.