Bitcoin dominance has been constantly dropping since May. Just a few days ago, Ethereum spot ETFs pulled in $524 million . Altcoins now account for 83% of futures volumes, compared to just 17% for Bitcoin . Bitcoin dominance has been constantly dropping. During May it was near 65% and now it has dipped to 58.7%, which has caused a stir in altcoins market. This implies that the capital is beginning to flow into altcoins, which is a good sign that an altcoin season is coming. Then, there is the most well-known altcoin, Ethereum, which is catching up to its all-time high, needing only about a 4% boost to reach that goal. This is largely fueled by big institutional interest, where just a few days ago, Ethereum spot ETFs pulled in $524 million. Also, with growing expectations for a Federal Reserve rate cut in September and a general increase in market liquidity, altcoins are likely to see some of the biggest price jumps. They are largely known to be more volatile, so when the market is doing well, altcoins often go up much faster than the broader market. Interestingly, according to CryptoQuant , altcoins now account for 83% of futures volume, compared to just 1… The post Why the Next Few Months Could Be a Turning Point for Altcoin Holders appeared first on Coin Edition .
