Altcoins Surge: Bitcoin Pulls Back, Is a New Bull Run Starting?

A strong upward movement is once again taking over the crypto market. Bitcoin has hit new high prices, and many altcoins are also making gains. Over the last week, Bitcoin kept increasing in price for several days, reaching a record of $118,731 on July 11.

Even with this achievement, data shows that Bitcoin’s market share has fallen a little. A well-known market expert, Matthew Hyland, suggests that altcoins might have even more growth potential. Many of them are now moving on their own, without depending much on Bitcoin’s price.

A vintage comic-style picture shows a scale. One side has a cracked Bitcoin logo sinking, while the other shows bright altcoin symbols rising, all set against a dark financial background.

In summary, Bitcoin reached a new all-time high but lost some of its market share, dropping from 66% to 64.5%. During this time, many altcoins outperformed Bitcoin. Ethereum rose by 17% in a week, pushing its ETH/BTC ratio up over 8%. This strengthens the idea that a new altcoin season is starting. Stablecoin reserves on exchanges are now over $31 billion, showing traders are ready to put new money into altcoins. Experts see a promising altcoin season ahead as Bitcoin’s outflows grow and smaller coins show independent growth.

The Bitcoin market share has fallen from 66% to 64.5%. Over the past three months, more than two dozen altcoins have overtaken Bitcoin. Data from TradingView also shows that the total value of altcoins has jumped more than 10% since the start of the month. Hyland said that “altcoins are exploding,” even though Bitcoin’s market share has stayed steady. Some analysts believe that if Bitcoin’s share drops further, to around 45%, the flow into altcoins could grow even more.

People often see Bitcoin’s market share as a sign of when altcoins will do well. When Bitcoin’s dominance drops, it usually means altcoins are starting their rise. The current gap between altcoins and Bitcoin’s market share could mean more money is flowing into the whole crypto market again.

Ethereum’s rise is helping push the altcoin season forward. Ethereum is the second-largest coin after Bitcoin and has gained over 17% this week. Its ETH/BTC ratio also increased by more than 8%.

Experts like Michael van de Poppe believe the market is about to enter the biggest altcoin bull run ever. Trading altcoins is hard, which makes sudden drops rare but big gains possible.

The company Santiment also agrees that the altcoin season has started. They say as long as Bitcoin stays above $110,000, traders will keep taking profits and putting them into altcoins. This will help the sector grow even more.

Another key factor is the large amount of stablecoins held on exchanges. Often called “dry powder,” these assets are waiting for the right moment to be used.

According to CryptoQuant analyst oinonen_t, stablecoin reserves on Binance are high, totaling over $31 billion. Meanwhile, Bitcoin reserves on exchanges are going down.

Many investors are moving their Bitcoin off exchanges into private wallets for safety. At the same time, stablecoin reserves are increasing as traders keep these funds ready for quick use. This shows that while some investors are holding onto their Bitcoin, others are preparing to jump into altcoins.

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