As per CoinMarketCap, Bitcoin’s dominance is waning as it drops to 60.8%, the lowest it’s been since mid-March.
Meanwhile, Ethereum’s on the rise, with 11.2% dominance, the highest it’s been since late January 2025.
Ethereum’s price gains have been sizeable after climbing 43% in the past 30 days and are currently trading at over $3,600 with a market cap of $437.34 billion.
As per Coinglass’s Altcoin Season Index, the markets are stuck halfway between Bitcoin Season and Altcoin Season, with just one point leaning into the side of alts.
However, to some, including analyst/trader Peter Brandt, altcoin season is already here.
It follows a year of woeful underperformance for the number 2 crypto, which has struggled to compete with Bitcoin’s year-long bull run.
However, as has been seen in previous market cycles, BTC can only climb so high before retail and institutional investors start looking to altcoins.
Ethereum ETFs
Bolstering the bullish sentiment amongst retail investors is the historical success of U.S. spot Ethereum ETFs.
So far, garnered $1.78 billion in weekly total net inflows, raising July’s total to $2.88 billion, its best month on record.
Ethereum ETF flows. | Source: SosoValue.
This marks their largest-ever week of inflows since launching on July 26, 2024. Ethereum funds got off to a slow start and underperformed their BTC counterparts for months.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
