Bitcoin is still running the show in the crypto market and that could be the main reason the long-anticipated altseason hasn\u2019t arrived yet.<\/p>\n\n\n\n
A new quarterly report from Bybit<\/strong> and Block Scholes<\/strong>, released on August 8, shows Bitcoin\u2019s share of the total non-stablecoin market cap is continuing to climb. That\u2019s a break from the usual post-halving pattern, where BTC dominance peaks and then quickly drops as capital rotates into altcoins.<\/p>\n\n\n\n In previous cycles, this shift happened roughly 230 days after the halving<\/strong>. This time around, that milestone passed in December 2024<\/strong> without the sharp drop in dominance that typically signals the start of altseason.<\/p>\n\n\n\n \ud83d\udd0d What\u2019s Different This Cycle?<\/strong> But in this cycle, Bitcoin has hit multiple record highs without triggering that same flood of capital into altcoins.<\/p>\n\n\n\n The report points to a major reason: the rise of institutional investors<\/strong>. Corporate treasuries, pension funds, and other large players are buying and holding Bitcoin through spot ETFs<\/strong> and direct custody. These \u201csticky\u201d investors tend to hold long term, meaning less volatility and fewer funds flowing into altcoins.<\/p>\n\n\n\n With Bitcoin up about 79% over the past year<\/strong> (compared to the S&P 500\u2019s 16%), there\u2019s less incentive for these investors to take on the higher risk of chasing smaller coins.<\/p>\n\n\n\n \ud83d\udca1 Ethereum\u2019s Waiting Game<\/strong> Still, ETH\u2019s strength hasn\u2019t been enough to spark a broader drop in BTC dominance. The report suggests that a rotation could happen if more institutional flows shift from BTC ETFs to ETH ETFs. U.S. moves toward tokenization and the launch of staking-enabled ETFs could also be catalysts.<\/p>\n\n\n\n \ud83d\udcca Sentiment Check<\/strong> Bottom Line:<\/strong> Bitcoin\u2019s institutional-backed rise is keeping capital locked up in BTC. Unless that changes, altcoins may have to wait a while longer for their time in the spotlight.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin is still running the show in the crypto market and that could be the main reason the long-anticipated altseason hasn\u2019t arrived yet. A new quarterly report from Bybit and Block Scholes, released on August 8, shows Bitcoin\u2019s share of the total non-stablecoin market cap is continuing to climb. That\u2019s a break from the usual…<\/p>\n","protected":false},"author":3,"featured_media":10656,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63,70],"tags":[69,65,281],"class_list":["post-10655","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-finance","tag-bitcoin","tag-crypto","tag-price-analysis"],"yoast_head":"\n
Traditionally, the market cycle went like this:<\/p>\n\n\n\n\n
Ethereum has shown some signs of leadership. Since April, ETH is up nearly 100%<\/strong>, compared to BTC\u2019s 40%. Gains have been fueled by:<\/p>\n\n\n\n\n
Right now, derivatives markets show bullish sentiment in both BTC and ETH but not the \u201ceuphoric\u201d positioning that has historically come before major altcoin rallies. Until Bitcoin dominance takes a decisive dip, the next altseason looks more like a possibility than a sure thing.<\/p>\n\n\n\n