Possibly entering an altcoin season as momentum shifts in the cryptocurrency market, Bitcoin dominance decreased significantly from over 65% to 63.89% while surpassing $100,000 for the first time since February 3.

This decline triggered a widespread rise in altcoins, with Ethereum increasing by almost 13% and other major names such as SOL, DOGE, and ADA each gaining more than 6%. Coupled with an uptick in the ETH/BTC ratio from its lowest point since 2020, there are indications that a shift towards altcoins may be occurring after months dominated by Bitcoin.

The decrease in Bitcoin dominance and the surge in ETH and other major altcoins suggest a possible rotation of capital from Bitcoin to altcoins. This shift is highlighted by the ETH/BTC ratio rebounding from historical lows, potentially signaling the onset of an altcoin favorable market trend. The increasing Altcoin Season Index, currently in neutral territory after bottoming out in late April, along with the strong altcoin rallies in early May, hint at the prospect of a new altcoin season in May 2025.