But its dominance rate, or share of total crypto market cap, has dropped to a one-month low of under 59%. That implies a rotation into altcoins and many of them, such as UNI, NEAR and ARB have surged by nearly 30% in 24 hours.

“Altcoins have accelerated sharply while the majors lag. Markets hope for SEC and CFTC crypto adoption, plus passage of the Bitcoin Reserve Bill,” Alex Kuptsikevich, the chief market analyst at The FxPro, said in an email.

“It appears that traders are cautiously shifting their focus towards altcoins, although neither the altcoin season index nor market sentiment has yet reached high levels,” he said. Stay alert!