
Bitcoin dominance has weakened from around 60%, signaling a shift of capital into altcoins similar to past cycles in 2017 and 2021. This rotation suggests growing market participation beyond Bitcoin, with increased liquidity flowing into Ethereum, Solana, Ripple, and other altcoins. However, much of this activity is driven by leveraged trading rather than long-term spot buying, and Bitcoin still maintains strong market control. The market remains fragile, as a return of Bitcoin momentum could quickly pull liquidity back from altcoins to Bitcoin and stablecoins.