Bitmine’s Massive Ethereum Purchase Sparks Altcoin Rotation as $19 Billion Market Liquidation Unfolds

The cryptocurrency market is experiencing an intriguing shift as Bitcoin dominance drops, signaling a potential altcoin rotation. Following a massive $19 billion liquidation event that shook the crypto world, Bitmine’s significant ETH accumulation has caught attention. This purchase of $480 million in Ethereum signals a move toward riskier assets, potentially fueling the market’s recovery. Bitcoin’s current dominance stands at around 60%, and Bitmine’s activity suggests capital is shifting from Bitcoin towards altcoins like Ethereum and Dogecoin.