Bitcoin dominance is slowly increasing. It was at 34% a few days ago, now it's at 39.5%. Most altcoins are red.
Bitcoin is currently more than twice the market cap of #2, Ethereum.
Do you think that altcoin hype is finally fading?
You have to be careful to not take small movements in the market and then make huge assumptions.
That is not an informed trading practice.
Rather, you analyze data, compare it to trends in the past, find patterns, then predict a percentage range increase.
It might sound complicated, but hey, I'm just an English teacher. Before crypto I HATED and sucked at math.
But I learned how to do it through hardcore research and practice and I can tell you this: numbers give way better profits rather than speculation.
For the current state of the market, what you have, is a combination of some new money entering the crypto world.
It is almost always through btc first, sometimes through eth.
also, the semi new ones from the past two months are starting to think that their shitcoin that was hyped by mcaffee or whoever isn't going anywhere so they are migrating back to a stable investment.
As the market goes up, people will start to gain more confidence and the wild speculative investments will begin again and, voila! Our next bull run.