Bitcoin’s market dominance has reached 60.71%, reinforcing its position as the cryptocurrency leader while delaying the onset of an altcoin season.
Despite Bitcoin’s persistent control over market capitalization, Ethereum has demonstrated significant strength with a 45% gain against Bitcoin recently. This surge is attributed to substantial ETF inflows totaling $1.13 billion alongside growing decentralized finance activity.
Market sentiment shows cautious optimism with the Fear & Greed Index holding at 62. For altcoin season conditions to be met, the Altcoin Season Index must exceed 75 alongside Bitcoin dominance dropping below 58%, neither threshold currently reached.
Select altcoins are bucking the trend, with Pendle delivering triple-digit yields and BNB achieving a 17% monthly gain against Bitcoin. This fragmented landscape illustrates the market’s nuanced condition beneath Bitcoin’s overarching dominance.