Bitcoin Regains $64k as Altcoin Season Fades
Bitcoin has regained its footing above $64,000 after a brief dip below $63,000 at the start of the week. However, not all assets are following suit, with XRP and BNB trading lower on the day.
The Bitcoin dominance rate has climbed to 58.8%, indicating that capital is concentrating in Bitcoin rather than rotating into other altcoins. This behavior is typical late in a drawdown cycle, but it's not what you'd expect during an altcoin season.
Despite the mixed market sentiment, spot Bitcoin ETFs have pulled in over $385 million in net outflows last week, which could limit Bitcoin's ability to sustain a major upside move. The SEC 13F filings show Jane Street accumulated $630 million in Bitcoin ETFs during Q2 2026.
The Fear and Greed Index is currently sitting at 40 out of 100, indicating caution rather than fear or greed. The Altcoin Season Index has also recovered to around 46 out of 100, suggesting a cautious market rather than an altcoin season.