Bitcoin’s market share fell below 60%, hitting its lowest level in half a year. Is a new round of “copycat season” coming?

Bitcoin's market share fell below 60%, hitting its lowest level in half a year. At the same time, TOTAL2 and TOTAL3 rose simultaneously, and the market expected that a new round of "altcoin season" is brewing.
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Bitcoin market share (BTC.D) In mid-June this year, it reached the highest point in more than four years (66%). However, it has continued to decline recently. Today (10th) it fell below 60%, hitting the lowest level in half a year. It dropped to 59.97% before the deadline, a drop of more than 3% in a week.

The fall of this key level indicates that funds are beginning to look for higher beta target markets, and more and more voices are beginning to regard this as the starting point for the rotation of altcoin funds.

TOTAL2, TOTAL3 are rising

It is worth noting that the total market value excluding Bitcoin (TOTAL2) jumped 11.94% in a week, and currently reaches 1.56 trillion US dollars; the total market value excluding Bitcoin and Ethereum (TOTAL3) also increased by 8.58% in the same period, exceeding 1 Trillion US dollars. This shows that although funds have left Bitcoin, they have also quickly entered other currencies. In addition, stablecoins have continued to flow into exchanges recently, providing "ammunition" for altcoins to rise.

Opportunities and risks coexist: investors need to be cautious

However, although Bitcoin is still fluctuating at highs, the author still wants to remind investors that if BTC If there is a substantial correction, the decline of altcoins will surely be more serious.

When you sense that the market atmosphere is not right, you must be careful of the "retracement risk brought about by high volatility" and should not blindly chase prices higher. Appropriate diversification, setting stop-profit and stop-loss, and dynamically adjusting positions are still necessary methods to ride through fluctuations.