Bitcoin's Rally Tightens Its Grip on Crypto Markets: Is Alt Season Cancelled?

Core Insights - Bitcoin has reached a new all-time high of $125,506, increasing its market dominance to 59% [1][3] - The surge in Bitcoin's price is attributed to factors such as the stablecoin market cap reaching $300 billion and the release of $1 billion in frozen funds from FTX [2] - Institutional interest in Bitcoin is growing, reinforcing its status as the "market's anchor" [3] Market Dynamics - The current rally raises questions about the potential end of the anticipated "altcoin season," but experts suggest it is not over yet [4] - There is a possibility of a rotation into altcoins, but Bitcoin's declining bullish momentum could lead to a "bear trap" [5] - Users of the prediction market Myriad estimate a 60% chance of Bitcoin's dominance rising to 64% [6] Investor Sentiment - A key signal for potential altcoin momentum is Bitcoin's dominance falling below 55% [7] - Despite short-term uncertainties, overall market sentiment remains positive, with expectations of continued favorable conditions [7]