Bitcoin dominance hits 6-month lows as metric proclaims new 'alt season'
BTC currently makes up 41% of the total crypto market cap — its smallest market share since January. Bitcoin (BTC) is facing fresh competition from altcoins this month as data shows that — technically — it is already "alt season." Figures from CoinMarketCap and TradingView show that BTC currently makes up around 41% of the overall crypto market capitalization — its lowest since the start of 2022. Bitcoin sheds market cap prowess After suffering at the hands of the Terra LUNA collapse, altcoin markets have rallied considerably in recent months. Alongside Bitcoin's return from 18-month lows of $17,600 in June, altcoins have enjoyed their own renaissance, one which is now giving Bitcoin bulls a run for their money. According to CoinMarketCap, Bitcoin's market cap share is now at its lowest since mid-January, with largest altcoin Ether (ETH) in particular stealing the limelight in recent weeks. From lows of 14.3% on June 19, Ethereum's market cap dominance now stan...