Bitcoin's market share falls below 60%, signaling the arrival of the altcoin season

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On August 9, according to market data, the Bitcoin market dominance (BTC.D) fell below 60%, dropping 3.1% over the past week, currently reported at 59.98%.

The total cryptocurrency market capitalization increased by 6.9% over the past week, with the total market cap excluding Bitcoin (TOTAL 2) rising by 11.94%, and the total market cap excluding Bitcoin and Ethereum (TOTAL 3) increasing by 8.58%.

Market perspectives generally believe that the continued decline in Bitcoin market dominance suggests that the altcoin season may truly be approaching.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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