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Cryptocurrency markets are witnessing a significant divergence as altcoins experience explosive growth while Bitcoin maintains its dominant position. Analyst Matthew Hyland suggests this could be just the beginning of a larger trend.
Despite altcoins' impressive performance, Bitcoin's market share remains remarkably stable at 【64.46%】, dropping only 1.53% in the past week. This stability comes as Bitcoin itself achieves consecutive all-time highs, reaching $118,760 recently. ——The real fireworks may come when dominance drops to 45%—— Hyland predicts.
The past seven days have seen MemeCore (M) lead the charge with a staggering 【1,263%】 gain, followed by Mog Coin (MOG) at 75.01% and Stellar (XLM) with 67.43% growth. Interestingly, Ethereum—often viewed as a bellwether for altcoin seasons—has gained 17.68% during the same period.
While some metrics suggest altcoin season has arrived, others paint a different picture. CoinMarketCap's Altcoin Season Index currently scores just 29/100—firmly in "Bitcoin Season" territory. This contradiction highlights the complex dynamics at play in today's crypto markets.
Michael van de Poppe of MN Trading Capital believes we're entering the ——final easy bull market—— for altcoins. Meanwhile, Santiment's on-chain data suggests the altcoin season has already begun, provided Bitcoin maintains support above $110k.
As the market evolves, traders face new challenges in navigating these shifting dynamics. The coming weeks may reveal whether current altcoin strength represents a temporary surge or the start of a sustained market rotation.