Altseason Looms as Bitcoin Dominance Falls 6%
Bitcoin's dominance has taken a hit as its share of the market drops over 6%, making way for altcoins to shine. Improved regulatory clarity is driving capital towards alternative cryptocurrencies, signaling the start of what could be the long-awaited altseason.
Sygnum's Q3 outlook predicts this shift in momentum after earlier geopolitical sell-offs pushed prices down. Bitcoin had reached new all-time highs above $123,000 on July 14 due to supply-demand imbalances, but its dominance has been declining since.
Spot Bitcoin ETFs have accumulated over 110,000 coins last quarter, pushing assets under management past $160 billion. Ethereum, however, broke its long-term downtrend after the successful Pectra upgrade raised staking caps and improved protocols.