Bitcoin Dominance Falls Below 60% as Altcoin Season Looms

Bitcoin's dominance has fallen below 60% for the first time in weeks, sparking interest among traders. The decline in dominance often signals a shift towards altcoins.

However, this cycle looks different from past ones. Bitcoin's price is holding steady near $84,000 after being rejected twice at the $87,000 level. Despite the dip in dominance, Bitcoin ETFs have shown a net inflow of $2.978 billion over the last seven sessions.

The altcoin market cap has grown by 33% since mid-August, but many altcoins remain far below their old highs. The setup looks ready for an altcoin season, but it's not quite there yet.