The Dominance of Bitcoin Fluctuates at 99,513,638,311

In May 2025, after the price of Bitcoin broke through $100,000, its dominance plummeted from 65% to 63.89%, freeing up funds for altcoins. Meanwhile, the ETH/BTC ratio rebounded, which is seen as an early indicator of the altcoin market. However, Bitcoin still holds an absolute dominance in the market (around 64%), and institutional funds continue to flow into Bitcoin ETFs, resulting in limited liquidity for altcoins.

Altcoin Index Rebounds

The CoinMarketCap Altcoin Quarterly Index jumped from 23 to 36 in just 4 days, breaking through the “Bitcoin Season” threshold and entering the neutral range. If this index continues to break through the 75th percentile (i.e., 75% of altcoins outperform Bitcoin), it will signify the official start of Altcoin Season.

Historical Cycle Reference

2017 and 2021: Altcoin seasons typically occur after Bitcoin peaks and corrects, such as the collective explosion of altcoins in March-April 2021.

2025 Special Circumstances: The launch of Bitcoin ETFs has extended its dominance cycle, with institutional funds leaning more towards “safe haven” attributes, suppressing the short-term performance of altcoins.