Bitcoin's share of the total crypto market, known as its dominance, tanked Thursday after a U.S.
Bitcoin's dominance rate fell 2.6% to 50.14% after the court ruling, the biggest one-day decline since June 13, 2022, according to data from charting platform TradingView. Altcoins like XRP, SOL, MATIC and ADA chalked out double-digit gains, outshining bitcoin by a big margin."Alt season may be upon us following the Ripple news as indicators collectively suggest risk appetite is funneling down the risk continuum," Decentral Park Capital said in a market update published Thursday.
In contrast, Noelle Acheson, author of the Crypto Is Macro Now newsletter, said the ruling could help Coinbase in its legal tussle with the SEC, but cautioned against predicting an outsized altcoin rally.