According to BlockBeats, on July 24, Bitget Research Institute's chief analyst Ryan Lee stated that Bitcoin's dominance has recently fallen to the range of 59%-61%, while the Altcoin Season Index shows an upward trend, indicating that capital is rotating towards mainstream altcoins such as Ethereum, XRP, and Solana, with related assets recently experiencing an increase of 20%-40%.
Ryan Lee pointed out that the active performance of sectors such as AI, RWA, and Memecoins also shows the market's strong attention to specific narratives. However, the Altcoin Season Index has not yet surpassed the confirmation threshold of 75%, and the current market is more likely a phase of rotation rather than a full-blown altcoin season. To extend the market into the later part of the third quarter, the key depends on whether Bitcoin's market share can continue to remain below 60%. Additionally, institutional capital inflows, favorable regulatory conditions, and improvements in the fundamentals of Layer 1 and DeFi sectors are all important signals confirming the start of an altcoin season.
