Altcoins Surging Amid Potential Fed rate Cuts
Binance Research reveals that the crypto landscape is tilting towards altcoins. As bitcoin (BTC) dominance slips to 57.3%, altcoins like Ethereum (ETH) are gaining ground, with ETH dominance rising to 14.2%.
This shift signals a possible market rotation, fueled by the anticipated Federal Reserve rate cuts in September. Altcoins have considerably outperformed BTC in August, showcasing their surge in investor interest.
- Bitcoin dominance drops to 57.3%
- Ethereum’s share climbs to 14.2%
- Expectations of Fed rate cuts fuel altcoin growth
binance Research indicates that ancient data does not strongly back the idea that rate cuts directly boost the BTC price. the correlation is weak and unpredictable.Instead, the focus is on how rate cut expectations evolve.
In August, most top altcoins outshone Bitcoin. While BTC fell by 8%, Ethereum soared by 18.6%,driven by ETF inflows and institutional interest. Solana (SOL) also saw a 15.5% rise, benefited by new upgrades.
the market’s attention seems to be shifting away from Bitcoin towards altcoins, a trend that could gain more momentum if the Fed’s decision surprises the markets.
