The Altcoin Season Index rose to 67 from 29 last month, signaling stronger altcoin momentum that could potentially trigger an altseason soon.
BTC dominance has slipped to 57.3 per cent, while the CMC Altcoin Season Index has climbed to 62/100, which analysts suggest are early signs of capital rotation into altcoins
Analysts suggest the muted price action reflects investor caution ahead of the upcoming US CPI release, which could influence the Fed's next policy decision
Meanwhile, roughly $300 million in crypto positions were liquidated over the past 24 hours, led by Ethereum at $97 million and Bitcoin at $54 million
Market analysts attributed the renewed bullish sentiment to significant inflows into spot Bitcoin ETFs, which registered $333 million in net investments in a single day
Ethereum, on the other hand, is lagging slightly but sits at a key breakout point, holding $4,300 support and now retesting its descending trendline
Caution dominated trading activity, amplified by Wall Street's closure for the Labor Day holiday and concerns over a BTC whale potentially divesting another billion-dollar tranche of BTC
Speaking to a global audience of investors and industry leaders, Back predicted that in the near future, most companies will hold Bitcoin as a central part of their treasury strategy
Ethereum (ETH) is showing early signs of short-term bullish momentum on the 1-hour timeframe, supported by a 20/50 EMA bullish crossover
Bitcoin price today: The world's largest crypto-asset by market capitalisation rose as much as 1.27 per cent to $124,514.57 on Thursday
This bullish momentum comes on the heels of US President Donald Trump signing an executive order to expand 401(k) access to alternative assets, aiming to improve returns and diversification
Bitcoin's market dominance declined to approximately 60 per cent, while Ethereum's share surpassed 11.8 per cent, indicating a notable shift in asset allocation within the cryptocurrency market
Ethereum has found its footing above $3,600, though it couldn't quite hold onto the gains that pushed it near $3,800 earlier this week
Altseason, analysts suggest, typically follows a pattern in the crypto market's 4-year cycle - starting with Bitcoin, then large-cap tokens like ETH and SOL, and finally spreading to smaller altcoins
Bitcoin has fluctuated in the range of $116,550 - $119,239 in the last 24 hours, with a trading volume of $62.97 billion
The approval of these crypto-related bills, analysts said, has boosted investor confidence and added regulatory clarity, driving strong upward momentum across the market
Bitcoin has fluctuated between $117,751 and $120,065 over the past 24 hours. Ethereum, on other hand, is currently outperforming after confidently breaching the $3,000 level
Bitcoin is currently 4.25 per cent away from its all-time high of $123,091.60, scaled on July 14 this year
Market analysts attribute this pullback to profit-taking among investors at higher levels
The rally in Bitcoin, market analysts said, is being driven by a confluence of macroeconomic factors including anticipated US rate cuts, a weakening dollar, and ongoing trade negotiations