Ethereum Rallies as Bitcoin Dominance Drops Ahead of June
Recent trends indicate a shift towards altcoins, primarily driven by Ethereum's surge to $2,700 and a decline in Bitcoin's dominance.
- Bitcoin dominance dropped from 65% to 62%, breaking a five-month upward trend.
- This decline may signal the start of an altcoin season, with analysts observing key support levels.
- Total crypto market capitalization increased from $2.90 trillion to $3.24 trillion.
- Joao Wedson, CEO of Alphractal, claims that 37 out of 57 tracked altcoins have outperformed Bitcoin in the past 60 days.
- Ethereum's dominance rose to 9.75%, while overall altcoin dominance reached 22.35%.
- Despite recent gains, Ethereum and altcoins remain below historical peaks.
The price of Bitcoin is currently around $102,600, while altcoins continue to gain momentum.