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Bitcoin Dominance Drops Nearly 4%, Signal of Altseason?
The market dominance of Bitcoin has recorded a decline of 3.8% to 59.8% this morning, Monday (, according to CoinMarketCap. This decline signals the potential beginning of an intriguing growth phase for altcoins that attracts investors.
According to market data, Bitcoin's dominance over the total crypto capitalization is now lower than previous levels. Meanwhile, assets other than BTC account for 27.4% of the crypto market capitalization.
The surge in the market value of altcoins indicates a shift in investor focus from Bitcoin to other crypto assets. This decline reflects the trend when market participants begin to shift their portfolios to altcoins.
This phenomenon is often referred to as altseason, which is a period when the performance of altcoins outperforms Bitcoin. If this trend continues, various altcoins have the potential to record significant increases and provide opportunities for investors.