BTC holds its dominance despite surges in altcoins, says analyst

Bitcoin's (BTC) dominance has not budged despite recent surges in altcoins, while a further decline in dominance could signal a full-blown altcoin bull run, said crypto analyst Matthew Hyland, as reported by Cointelegraph. Data from TradingView shows that BTC's dominance fell slightly last week by 1.53%, but altcoins saw significant gains. Notably, although the market typically views a drop in BTC dominance as a sign of altcoin season, the recent altcoin rally has come amidst BTC dominance holding up. This suggests that new capital is flowing into the market, according to the news outlet.