The decrease in Bitcoin dominance (BTC Dominance) to 55.27% over the month (-8.59%) may be a sign of the beginning of an altseason. Altseason occurs when a significant portion of funds in the crypto market flows from Bitcoin to altcoins, leading to their growth.
To analyze the current situation:
1. Technical analysis: Check the price dynamics of altcoins for significant growth. Popular altcoins (ETH, SOL, ADA, and others) may show higher returns compared to Bitcoin.
2. Trading volumes: An increase in trading volumes of altcoins also confirms the growing interest in them.
3. News background: The rise in interest in altcoins may be driven by positive news, project updates, or the launch of new technologies.
If the decrease in BTC dominance continues, it may indicate a growing interest in altcoins. However, it is important to consider the risks, as the cryptocurrency market remains highly volatile.