Bitcoin Market Dominance Drops to 61.15%, Signaling the Start of Altcoin Season in 2024

As of July 20, Bitcoin market dominance (BTC.D) has experienced an uninterrupted decline spanning eight days, reaching a current level of 61.15%. This figure marks a notable dip below the highest dominance rate recorded in 2024, which stood at 61.53%. Market analysts, including Matrixport, interpret this sustained downward trend as a clear indicator of the emerging altcoin season. The shift in dominance suggests increasing investor interest and capital flow into alternative cryptocurrencies, potentially diversifying portfolio strategies within the crypto market. Monitoring BTC.D remains crucial for traders aiming to gauge market sentiment and asset allocation dynamics in the evolving digital asset landscape.