‘Altcoin season’ anyone? Bitcoin dominance tumbles after XRP victory
Bitcoin market dominance briefly dipped below 50% as altcoins deemed securities by the SEC notched double-digit gains. Bitcoin (BTC) dominance has taken a tumble in the wake of Ripple’s partial victory against the United States Securities and Exchange Commission, with a surge in altcoin prices briefly causing BTC dominance to fall under the 50% mark. Bitcoin dominance — the measure of how much Bitcoin makes up of the total crypto market cap — fell to 49.76% during Asian trading on July 14, according to Tradingview. Just weeks earlier, BTC market dominance finally managed to rachet above 50% after a dry spell of two years, amid a slew of applications for spot Bitcoin ETFs from major financial firms. Over the last 24 days, Bitcoin dominance had been hovering around 51% and 52%. BTC market cap dominance. Source: Tradingview The recent dip in Bitcoin dominance comes as the crypto community is chanting the return of “altcoin season.” Boosted by Ripple’s court victory the XRP token s...