Bitcoin's dominance in the cryptocurrency market has fallen to its lowest level since January, declining to below 60% as the price of Ethereum approaches its record levels.
According to data from 'TradingView', the decline in Bitcoin's dominance in the market began in late June, with a total decrease of nearly 10%, which revived discussions about the possibility of the market entering an altcoin season, which usually occurs when dominance drops to 50%.
Bitcoin Dominance is ready to drop! #Altcoinseason is officially set to begin… $BTC #BTC #Bitcoin pic.twitter.com/ALFxP0HgiD
-- CryptoELlTES (@CryptooELITES) August 11, 2025
Technical indicators on the weekly chart show weakness in Bitcoin dominance, prompting analysts to predict a decline in dominance to around 45% in the coming months, which could open the door to significant rises for altcoins that may reach up to 50 times.
However, the 'CoinMarketCap' index for altcoin season still stands at 37 out of 100, compared to a higher reading of 53 from the 'altseason' index from the Blockchain Center, supported by the rise in Ethereum's price.
In the market, the price of Bitcoin stabilized near the level of $119,600, while the price of Ethereum jumped by 8% to reach $4,630, which is only 4.2% away from its historical peak recorded in 2021.
The price of Solana recorded an increase of 12% to approach $200, Cardano by 9% to $0.86, while the price of Litecoin rose by 11% to record its highest level in six months at $133, on a day when altcoins dominated the scene.
