The cryptocurrency market capitalization hit 3.80 trillion USD this week, marking a new all-time high. Peter Brandt highlights this as a significant milestone as Bitcoin’s rally supports broader market recovery while Ethereum gains dominance.
Currently, Bitcoin’s dominance stands at 62.89%, down from 66% last month, while Ethereum’s dominance increased to 11.02%. This shift indicates a capital rotation towards altcoins, driven by rising investor confidence.
The Fear and Greed Index reflects a bullish sentiment at 70, while the capital flowing into altcoins has surged, pushing their collective market capitalization beyond 1.41 trillion USD, further enhancing expectations for an altcoin season.
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