Ethereum ETF Demand Sparks Altcoin Frenzy—Leaves Bitcoin in the Dust

Move over, Bitcoin—Ethereum’s ETF inflows are stealing the spotlight. Institutional money floods ETH as altcoins ride the wave, proving once again that crypto’s ’next big thing’ is always... the next big thing.

Wall Street’s latest flavor? Digital assets with actual utility. Who knew?

We are not in altcoin season yet, Jin suggests

Still, Jin clarifies that the altcoin season has not officially begun. For one, only 27 out of the top 100 altcoins have outperformed Bitcoin over the past 90 days. Meanwhile, Bitcoin’s dominance remains strong at 63.1%. That said, Ethereum has posted modest gains, with its dominance increasing by 2% in May.

“While recent altcoin performance has been encouraging, history suggests that the true altseason typically begins when Bitcoin’s dominance starts to diminish, and doesn’t take hold until Bitcoin’s dominance starts to decline more meaningfully,” Tracy Jin, MEXC.

For a full-fledged altcoin season to emerge, Jin believes Bitcoin’s dominance must drop more sharply. She suggests this is possible as Bitcoin stabilizes at the psychological level of $100,000. In that case, Ethereum could break through the $2,750 resistance and rally toward $3,200.