Key Points
- Altcoins’ market share continues to rise, while Bitcoin’s dominance is dropping.
- On December 10, BTC’s dominance peaked, while altcoins’ market share dipped to a 7-day low.
Today, Bitcoin’s market share debuted a downward trajectory, while altcoins’ market value continues rising, following the recent December 10 dip.
Altcoins Market Share Recovers
Altcoins’ market share dropped to a 7-day low on December 10. Trading View data shows that on that day, the crypto total market cap, excluding the top ten digital assets, reached a bottom at around $342 billion.
However, on the same day, the altcoins’ market share debuted a recovery, peaking today close to $419 billion, according to the same data.
Altcoins’ market share rose by over 4% today, and by almost 50% during the past month.
Unlike altcoins, Bitcoin’s dominance had an opposite trajectory since December 10.
Bitcoin Dominance is Dropping
Bitcoin’s dominance peaked in the past seven days, reaching a top of over 57% on December 10, according to data from Trading View.
After that, Bitcoin’s market share debuted a descendant trajectory, dropping to around 56% today.
Today, Bitcoin’s dominance is down by over 1% and by more than 6% in the past month.
Altcoins, Uncorrelated With Bitcoin in the Past Month
The Trading View charts show that altcoins have lost correlation to Bitcoin during the past 30 days. During the past 6 months, altcoins’ market share rose by over 68%, while Bitcoin’s dominance surged by more than 1%.
In the past month, altcoins debuted an independent trajectory that is uncorrelated to BTC. While BTC’s dominance is declining, the altcoin season has been confirmed.
However, Bitcoin continues its ascendant trajectory above $100,000 fueled by multiple factors and continuous growing interest and global adoption.
BTC’s recent price rally was fueled by strong inflows in BTC ETFs, rising US inflation and surging chances for a potential interest rate cut, and high optimism around upcoming BTC reserves in the US and other countries.
Also, the upcoming Trump administration set to bring crypto-friendly policies is fueling the industry’s trust and optimism for the future.
