Bitcoin’s market dominance has been rejected at a crucial multi-year technical resistance level, with a bearish moving average convergence divergence (MACD) crossover emerging in recent weeks. This signal potentially indicates shifting market momentum away from the leading cryptocurrency toward altcoin assets.
Despite this technical setback, Bitcoin retains significant market control with 59.55% of total cryptocurrency valuation. The Altcoin Season Index remains at 35 out of 100, well below the 75 threshold required to signal a confirmed altcoin season. This suggests cautious market rotation rather than broad-based altcoin demand.
Ethereum has emerged as a notable altcoin performer, rising 15.16% in the past week. This surge was supported by its recent Pectra network upgrade and substantial ETF inflows totaling $18.4 billion across approved products. DeFi tokens exemplified by Aave have rallied, while alternative cryptocurrencies including DONKEY and TROLL posted explosive gains of 349% and 241% respectively over the seven-day period.
Technical indicators point to waning Bitcoin momentum relative to altcoins through the MACD bearish cross pattern, even as market attention appears increasingly focused on selective altcoin opportunities for outsized returns.