Altcoins Heat Up as Bitcoin Cools, But Is the Rally Ending Soon?
Main Idea
Bitcoin remains stable while altcoins like Ethereum, XRP, Solana, Dogecoin, and Cardano show significant gains, with early signs of an altcoin season emerging despite Bitcoin's declining dominance.
Key Points
1. Bitcoin is steady around $119,366, while altcoins such as Ethereum, XRP, Solana, Dogecoin, and Cardano have gained 3–8%, with Dogecoin surging 9% in a day and 32% weekly.
2. The Altcoin Season Index has risen from 39 to 51, indicating early market strength, though a full altcoin season requires a reading above 75.
3. Ethereum reached $3,793, its highest since early 2022, and a break above $4,000 could trigger a broader altcoin rally.
4. Bitcoin's dominance has dropped 5.8% in a week to under 61%, its lowest since March, signaling a shift in trader focus toward altcoins.
5. Analyst Benjamin Cowen warns the altcoin rally may lose steam by late August, with Bitcoin dominance likely rising again in September or October.
Description
The post Altcoins Heat Up as Bitcoin Cools, But Is the Rally Ending Soon? appeared first on Coinpedia Fintech News Bitcoin is holding steady around $119,366 today with little movement, but altcoins have been stealing the show. Ethereum, XRP, Solana, Dogecoin, and Cardano are all seeing solid gains between 3–8%. Altcoin Season Index At 51 In just a few days, the Altcoin Season Index has risen from 39 to 51. Although a full-blown altcoin season is still far away ( above 75), the market is showing ...
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