Bitcoin's share of the total cryptocurrency market capitalization, at 4 trillion dollars, has decreased in recent days as altcoins fill the gap, and investors rush to invest in other cryptocurrencies with good profit prospects. Its market cap share has fallen to 61%, its lowest level since March, recording fewer gains.
Performance in previous years shows that Ethereum generally steps in to fill this gap when the metric is declining, and this is already being seen, considering that the price of ETH rose by 21% in one week, while BTC rose only 0.6% during the same period.
This decline has also led to an increase in discussions about the beginning of an altcoin season, considering that the index has risen to 41, indicating that investors are moving their funds from Bitcoin to other cryptocurrencies. This also supports the bullish narrative for a price prediction of Ethereum.
When investor sentiment towards altcoins is more bullish than sentiment towards BTC, the price of ETH is likely to continue increasing, and investors will move to this altcoin in hopes of it reaching new highs.
