Bitcoin Returns to Dominance: Is Altseason Over?

Recent market data reveals a shift of capital back toward Bitcoin, signaling a potential end to the anticipated altcoin season. While analysts predicted an increase in altcoin performance, the current trend shows investors are prioritizing Bitcoin (BTC). 59.1% of market capitalization currently belongs to Bitcoin, surpassing Ethereum’s dominance, which has seen significant ETF outflows. In stark contrast, Bitcoin spot ETFs registered net inflows of $20.33 million while Ethereum ETFs faced total net outflows of $128 million on October 23rd, marking one of the largest daily outflows since their inception.