Bitcoin dominance declines

Bitcoin’s market share of cryptocurrency’s total market capitalization (domain index) has dropped to 40%. The world’s largest cryptocurrency in terms of market value has lost its position as altcoin in the last two months in terms of market share and returns.

The graph below shows the BTC dominance ratio approaching the level last seen in May. This coincided with the peak ETH / BTC ratio near the resistance level of 0.08. The altcoin season seems to be taking a break soon.