{"id":397245,"date":"2022-08-09T22:47:15","date_gmt":"2022-08-09T17:17:15","guid":{"rendered":"https:\/\/www.www.bullfrag.com\/bitcoin-dominance-hits-6-month-lows-as-metric-heralds-a-new-altcoin-season\/"},"modified":"2022-08-09T22:47:15","modified_gmt":"2022-08-09T17:17:15","slug":"bitcoin-dominance-hits-6-month-lows-as-metric-heralds-a-new-altcoin-season","status":"publish","type":"post","link":"https:\/\/www.bullfrag.com\/bitcoin-dominance-hits-6-month-lows-as-metric-heralds-a-new-altcoin-season\/","title":{"rendered":"Bitcoin dominance hits 6-month lows as metric heralds a new \u201caltcoin season\u201d"},"content":{"rendered":"
Bitcoin (BTC) is facing fresh competition from altcoins this month, as data shows that it is technically already \u201caltcoin season.\u201d<\/p>\n
Figures from CoinMarketCap and TradingView show that BTC currently accounts for around 41% of the overall cryptocurrency market capitalization, its lowest level since the start of 2022.<\/p>\n
After suffering at the hands of the collapse of Terra LUNA\u2014now rebranded as Terra Classic (LUNC)\u2014altcoin markets have rallied considerably in recent months. <\/p>\n
Along with Bitcoin’s comeback from 18-month lows from $17,600 in June, altcoins have enjoyed their own renaissance, one that is now giving Bitcoin bulls a run for their money. <\/strong><\/p>\n According to CoinMarketCap, Bitcoin’s market cap share is now at its lowest point since mid-January, and the largest altcoin, Ether (ETH), in particular, has stolen the limelight in recent weeks.<\/strong><\/p>\n From the lows of 14.3% on June 19, Ethereum’s market dominance now stands at 19%.<\/p>\n