Bitcoin Dominance Falls Below 60% as Altcoin Season Rally Gains Momentum

Bitcoin's dominance over the cryptocurrency market has slipped below 59% for the first time in months, sparking talk of an altcoin season. Altcoin trading volume has surged to nearly four times Bitcoin's level, reaching its highest point since September 2025.

The shift is evident in the performance of various altcoins, with 72.5% of tracked altcoins outperforming Bitcoin through September 23. Ethereum (ETH) has also broken a nearly five-year downtrend against Bitcoin, pointing to a possible shift toward altcoins.

US spot Ethereum ETFs recorded six straight days of inflows totaling $689.9 million, while US spot XRP ETFs extended an 11-week inflow streak to $1.79 billion, signaling rising altcoin adoption and funding.