• Bitcoin holds near $USDC 100K – $BTC has been relatively range-bound (~$USDC $100K) while $altcoins are surging. Crypto Potato reports “altcoin season vibes” as Ethereum has soared ~40% in a week. Other large alts (DOGE, ADA, SOL, etc.) are also posting double-digit gains. Binance data shows ETH/BTC volumes jumped ~12% in 24h (May 11), signaling rising demand for altcoins.


  • Bitcoin dominance is falling – Data indicate capital rotation out of BTC and into altcoins. Bitcoin dominance recently dipped from ~55% to 52%, a classic altseason signal. In this period, Bitcoin gained modestly (<1% daily, ~+9% weekly) to about $104K, whereas the total crypto market cap added ~$70 billion on higher altcoin activity.

Ethereum’s Outperformance & Pectra Upgrade

  • 40% ETH rally – Ethereum’s price is up roughly 40% from early April lows, reclaiming key levels (now trading above $2.5K. Technical indicators (RSI, MACD) on the altcoin market remain bullish. Crypto news links this jump partly to the Pectra upgrade: “after… the Pectra upgrade, its price finally started to climb hard”.

  • Pectra upgrade highlights – Pectra (activated May 7) is Ethereum’s largest upgrade since The Merge. It raises the max stake per validator (from 32 to 2,048 ETH) to streamline staking, and adds account abstraction features (EIP-7702) for more flexible wallets. These fundamental improvements enhance network efficiency and user experience, bolstering confidence in ETH’s long-term outlook.

Capital Flows & Market Trends

  • Funds rotating to ETH/Alts – Institutional flows reflect the shift. On May 9, Ethereum ETFs saw a $17.6 M net inflow (into ETHA), indicating new money into ETH. By contrast, some Bitcoin ETF flows have stalled (e.g. WisdomTree BTC ETF had zero net inflow on May 9. On-chain, Bitcoin has seen net outflows from exchanges (12.3K BTC moved off exchanges, May 9–11), reducing selling pressure and coinciding with rising altcoin volumes. CryptoQuant’s “30-day capital rotation” metric (~16.7%) also suggests healthy steady inflows without mania.

  • Market sentiment – Positive equity markets (e.g. S&P 500 at ATH on May 10) are driving risk-on appetite. Traders note a broad rotation into high-beta crypto sectors (DeFi, L2, AI & memecoins) as Bitcoin’s dominance weakens.