Altcoin Season May Remain Delayed as Bitcoin Dominance Holds Above 60%
Main Idea
Bitcoin's dominance remains strong at 60.71%, delaying the altcoin season despite Ethereum and select altcoins showing gains, with market sentiment reflecting cautious optimism.
Key Points
1. Bitcoin's market dominance increased to 60.71%, reinforcing its position as the primary crypto asset.
2. Ethereum outperformed many altcoins with a 45% gain against Bitcoin in 30 days, supported by $1.13 billion in ETF inflows and DeFi interest.
3. The Fear & Greed Index stands at 62, indicating cautious optimism among investors.
4. Altcoin season is delayed; a shift requires the Altcoin Season Index to rise above 75 and Bitcoin dominance to fall below 58%.
5. Select altcoins like Pendle and BNB show strong performance, with Pendle offering triple-digit yields and BNB rising 17% in 30 days.
Description
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