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Bitcoin Dominance In Danger of Drop, Alt Season Finally Here?
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Since April of this year when Bitcoin first spiked over $1,000 in a matter of minutes, sending the first-ever crypto asset out of its bear market depths, Bitcoin dominance has soared, indicating that much of Bitcoin’s rally was fueled by altcoin-driven selling. The impact can be seen in both Bitcoin’s price outperforming most altcoins by a large sum in USD, and in the dwindling value relative to Bitcoin in most altcoin’s ratio to BTC.