Bitcoin bull run 'likely close to over' says trader as XRP flips McDonald's

Key Points

1. Bitcoin's price remained below $120,000, while altcoins like Solana and Dogecoin saw significant gains, with some rising by 10% in 24 hours.

2. XRP's market cap exceeded that of McDonald's, highlighting its strong performance and contributing to speculation about an altseason.

3. Market participants are observing a shift from Bitcoin to altcoins, with Bitcoin's dominance of the crypto market cap decreasing from 64% to 60%.

4. Traders like Keith Alan and Roman have expressed concerns about Bitcoin's potential exhaustion, citing indicators like RSI and MACD, while others see opportunities in altcoins.

5. QCP Capital noted that altcoin season indexes have crossed above 50, suggesting a possible shift in market dynamics favoring altcoins.