Bitcoin's market dominance has dropped to around 58.9%, while altcoin spot trading volume has climbed to nearly four times Bitcoin's, the highest level since September 2025. Ether has broken a nearly five-year downtrend against Bitcoin, and both spot Ethereum and XRP ETFs are logging sustained inflows.
Bitcoin's grip on the crypto market is loosening. BTC dominance has dropped to around 58.9%, slipping below the important 60% level. Altcoin dominance, meanwhile, has jumped 16.7% to 8.75%, showing altcoins now command a larger share of the total market. The pattern echoes past altcoin season cycles: Bitcoin leads first, then its dominance fades as traders rotate capital into higher-risk altcoins.
Altcoin Volume Climbs Near Four Times Bitcoin's
Trading activity backs up the shift. Glassnode data shows altcoin spot trading volume has risen to nearly four times Bitcoin's volume, its highest level since September 2025. Performance tells the same story: 72.5% of tracked altcoins outperformed Bitcoin through September 23, compared with 39% during the August rally. Spot buying is driving the move, while altcoin futures leverage has stayed largely unchanged.
Fund flows are moving in the same direction. U.S. spot Ethereum ETFs recorded six straight days of inflows, ending the week with $689.9 million in net inflows. U.S. spot XRP ETFs extended their streak further, pulling in inflows for 11 straight weeks with cumulative inflows above $1.79 billion.
Ether Breaks a Five-Year Downtrend Against Bitcoin
The ETH/BTC chart adds another signal. Ethereum has broken out of a nearly five-year downtrend against Bitcoin and is about to close its third straight green month. Ethereum often leads when capital moves beyond Bitcoin, and a stronger ETH/BTC trend can also support large- and mid-cap altcoins.
The OTHERS/BTC ratio, which tracks altcoins outside the largest tokens, shows a similar break: after a four-year downtrend, it has moved above its long-term trendline. Similar patterns appeared in 2017, 2021, and 2024, when altcoins gained strength after Bitcoin had led the market higher.
Source: Coinpedia Fintech News
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