{"id":163982,"date":"2024-04-01T17:56:49","date_gmt":"2024-04-01T17:56:49","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=163982"},"modified":"2024-04-01T17:59:20","modified_gmt":"2024-04-01T17:59:20","slug":"altcoin-season-coming-bitcoin-dominance-drops","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/altcoin-season-coming-bitcoin-dominance-drops\/","title":{"rendered":"Altcoin Season Coming: Bitcoin Dominance Drops as Investors Turn to Alternative Cryptocurrencies"},"content":{"rendered":"<p style=\"text-align: justify\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Key points of the news:<\/span><\/span><\/strong><\/p>\n<ul style=\"text-align: justify\">\n<li><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Bitcoin regains value after surpassing $70,000, rebounding after a brief dip below $62,000 last week.<\/span><\/span><\/li>\n<li><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Coinbase faces legal challenges with the rejection of its attempt to dismiss the SEC case, although it receives a favorable ruling on its wallet service.<\/span><\/span><\/li>\n<li><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Bitcoin&#8217;s dominance in the cryptocurrency market is declining, suggesting a possible start of an &#8220;altcoin season.&#8221;<\/span><\/span><\/li>\n<\/ul>\n<hr \/>\n<p style=\"text-align: justify\"><strong><a href=\"https:\/\/crypto-economy.com\/what-is-bitcoin\/\" target=\"_blank\" rel=\"noopener\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Bitcoin (BTC)<\/span><\/span><\/a><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">,<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> the leading cryptocurrency, has once again captured investors attention<\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> by surpassing the $70,000 mark<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> after a brief setback that took it below <strong>$<\/strong><\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> 62,000<\/span><\/span><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> last week.<\/span><\/span><\/strong><\/p>\n<p><!--more--><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">This rally <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">is attributed to positive flows into <\/span><\/span><\/strong> <strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Bitcoin exchange-traded funds (ETFs),<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> which returned after several consecutive days of outflows the previous week.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Meanwhile, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">cryptocurrency exchange Coinbase<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> is facing significant <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">legal challenges<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">A court rejected his attempt to dismiss the case brought by the <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Securities and Exchange Commission (SEC)<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, which alleges that <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Coinbase<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> operated as an unregistered exchange and made sales of securities through its &#8220;<\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">staking&#8221; program. <\/span><span style=\"vertical-align: inherit\">as-a-service<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.&#8221;<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Despite this, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">the court ruled in favor of Coinbase<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> regarding its wallet service, determining that it <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">does not violate US securities laws.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Bitcoin&#8217;s dominance<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> in <\/span><span style=\"vertical-align: inherit\">the cryptocurrency market <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">has been declining since March,<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> falling from a <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">high of around 55% according to the latest report from <\/span><\/span><a href=\"https:\/\/decentralparkcapital.substack.com\/p\/weekly-276\" target=\"_blank\" rel=\"noopener\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Decentral Park Capital<\/span><\/span><\/a><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">In parallel, the <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">market capitalization of altcoins <\/span><\/span><\/strong> <strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">has been increasing<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> during the same period.<\/span><\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-full wp-image-81481\" src=\"https:\/\/crypto-economy.com\/es\/\/wp-content\/uploads\/sites\/4\/2024\/04\/atlcoinss.jpg\" alt=\"Altcoin Season Underway: Bitcoin Dominance Declines as Investors Turn to Alternative Cryptocurrencies\" width=\"825\" height=\"300\" \/><\/p>\n<h2><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">This phenomenon suggests the possibility of the beginning of what is known as &#8220;altcoin season&#8221;<\/span><\/span><\/h2>\n<p style=\"text-align: justify\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Altcoin season<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> is <\/span><span style=\"vertical-align: inherit\">a time <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">where investors look for opportunities beyond Bitcoin<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> in the cryptocurrency market.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">In addition, a return of leverage<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> to the market is observed<\/span><span style=\"vertical-align: inherit\">, especially in riskier segments such as <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">meme currencies<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Recent news, such as the launch of <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">EtherFi<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> and <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Blackrock&#8217;s tokenized money market fund on Ethereum<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, have contributed to the resurgence of the <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">RWA<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> sector.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">On the macroeconomic front, Federal Reserve Chairman <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Powell<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> indicated <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">that the Fed is in no rush to reduce interest rates,<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> citing strong employment data and the need to monitor <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">inflation<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Despite lower expectations of rate cuts, the stock market, particularly led by technology stocks<\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, continues its rally,<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> according to <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Goldman Sachs<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, suggesting it <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">is not yet in bubble territory.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The current crypto landscape is marked by <\/span><strong><span style=\"vertical-align: inherit\">Bitcoin <\/span><\/strong><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">volatility, <\/span><\/span><\/strong> <span style=\"vertical-align: inherit\"><strong><span style=\"vertical-align: inherit\">Coinbase<\/span><span style=\"vertical-align: inherit\"> legal challenges<\/span><\/strong><span style=\"vertical-align: inherit\">, <\/span><strong><span style=\"vertical-align: inherit\">the growth of altcoins, and a macroeconomic environment<\/span><\/strong><span style=\"vertical-align: inherit\"> influencing market sentiment.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Investors <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">should keep an eye on these developments<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> as they navigate the exciting but volatile world of <\/span><\/span><a href=\"https:\/\/crypto-economy.com\/cryptocurrencies-from-a-to-d\/\" target=\"_blank\" rel=\"noopener\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">cryptocurrencies.<\/span><\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key points of the news: Bitcoin regains value after surpassing $70,000, rebounding after a brief dip below $62,000 last week. Coinbase faces legal challenges with the rejection of its attempt to dismiss the SEC case, although it receives a favorable ruling on its wallet service. Bitcoin&#8217;s dominance in the cryptocurrency market is declining, suggesting a &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Altcoin Season Coming: Bitcoin Dominance Drops as Investors Turn to Alternative Cryptocurrencies\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/altcoin-season-coming-bitcoin-dominance-drops\/#more-163982\" aria-label=\"More on Altcoin Season Coming: Bitcoin Dominance Drops as Investors Turn to Alternative Cryptocurrencies\">Read more<\/a><\/p>\n","protected":false},"author":33,"featured_media":163983,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[70,74],"tags":[4586,4620,5001],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/163982"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=163982"}],"version-history":[{"count":4,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/163982\/revisions"}],"predecessor-version":[{"id":163987,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/163982\/revisions\/163987"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/163983"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=163982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=163982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=163982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}