Bitcoin Dominance Falls to 59% as Altcoin Season Gains Momentum

Bitcoin's grip on the crypto market is weakening as its dominance falls below 59%. According to Bitget, this drop in dominance has been accompanied by a surge in altcoin trading volume, which now stands at nearly four times that of Bitcoin. The ETH/BTC chart has also broken a nearly five-year downtrend, signaling a potential shift towards altcoins.

The decline in Bitcoin's dominance is significant, as it means the cryptocurrency now holds a smaller share of the total crypto market. Altcoin dominance, on the other hand, has increased by 16.7% to 8.75%. This trend often precedes an 'altseason', where traders move capital from lower-risk assets like Bitcoin to higher-risk altcoins.

Glassnode data also 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. U.S. spot Ethereum ETFs have recorded six straight days of inflows, ending the week with $689.9 million in net inflows.