While Bitcoin holds steady near its recent highs, the spotlight has shifted toward altcoins, which saw strong gains over the past week. Traders appear to be rotating capital into riskier assets as Bitcoin enters a phase of consolidation.
After hitting $123K, Bitcoin pulled back slightly and started moving sideways, hovering between $116K and $120K. At the same time, its share of the total crypto market dropped for several days in a row, a rare move that usually signals the start of a stronger run for altcoins.
And that’s exactly what happened.
Ethereum jumped nearly 20%, while XRP posted a weekly gain above 21%. Solana also surged, pulling in capital from Bitcoin as investors looked for better short-term returns. Even smaller altcoins outside the top 10 followed suit, with a combined index of “other” tokens rising by more than 35%, equal to about $85 billion in added value.
This kind of widespread participation tends to happen when the market feels more confident, especially after a strong move from Bitcoin. Rather than a full reversal, it looks like Bitcoin is taking a breather while other coins play catch-up.
Despite losing dominance, Bitcoin still remains above the average cost for most holders, suggesting strong support. But the mood is shifting, long-term holders are starting to take some profits, and fresh capital is flowing into altcoins and retail wallets.
If Bitcoin continues to hold its ground above key levels, altcoins could keep leading the way. For now, traders are more interested in chasing momentum outside of Bitcoin, betting on higher returns as the market stretches into new territory.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
