Bitcoin Dominance Drops Below 60% as Altseason Surges

Bitcoin dominance has fallen below the key 60% market share threshold for the first time since January, slipping to around 59.2% amid Ethereum’s rally. Analysts at Bull Theory and Dan Gambardello highlight weekly-chart weakness and a break below long-term support, with projections forecasting a drop to 45% within six months—potentially triggering a “mega altseason” as traders rotate capital into altcoins. Social trading sentiment for altcoins is strong, though altseason indexes diverge: CoinMarketCap’s remains at 37/100, while Blockchain Center’s rises to 53. Bitcoin’s price stays stable near $119,350, but Ethereum leads gains—up over 8% to $4,670, closing in on its 2021 high. Other major altcoins also rally: SOL +12% to $200, ADA +9% to $0.86, LINK +13% to $24.50, and LTC +11% to $133. Traders will watch these technical indicators and price action closely to assess whether this drop in Bitcoin dominance heralds a sustained shift into altcoins or proves a brief correction.