Bitcoin’s price continues its ascent, hitting a six-month high as traders anticipate the Federal Reserve’s decision. Bitcoin itself has gained over 30% from its recent low, reaching $97,650 on Wednesday and pushing market dominance to a peak of 65.7%. This rise is largely attributed to Bitcoin’s resilience versus other crypto assets, which are currently underperforming the market. Ethereum’s market dominance has fallen significantly, dropping from 22.27% in 2022 to 7.5%, placing it at risk of further decline against its larger counterpart. This shift is mirrored in the performance of other altcoins like Ripple (XRP), Cardano (ADA), Solana (SOL), and Tron (TRX). Many altcoins have fallen considerably from their recent highs, with XRP down over 37% and others declining by even greater percentages. Wall Street’s continued demand for Bitcoin has been a driving force, particularly with the surge in Spot Bitcoin ETFs garnering significant inflows. Bitcoin dominance is on the verge of a potential correction. The weekly chart suggests that it hit a low point at 38.86% in 2021 and 2022 before surging to its current high of 65.4%. This trend indicates strong bullish momentum but also points towards a potential reversal. Altcoins are exhibiting a bullish megaphone pattern, characterized by two diverging upward trendlines. The market cap has recently pulled back, suggesting a potential rebound as bulls aim for the upper trendline. With altcoin market caps exceeding the lower trendline, an upcoming altcoin season seems likely to unfold.