The growth of $ETH coincided with a noticeable decline in Bitcoin's market share, which dropped to about 59%. This indicates a reallocation of capital from Bitcoin to altcoins, including Ethereum.
Popular trader and analyst Rekt Capital noted that "Ethereum's dominance is already about 50-60% of its macro uptrend," comparing this to the previous bull market in 2021.
He suggested that Bitcoin's dominance may temporarily recover but will ultimately transition into a long-term downtrend. This indicates the possibility of a broader "altcoin season" where tokens significantly rise relative to Bitcoin.
