Analysis: Strong Performance of Major Altcoins Is the Main Reason for Bitcoin’s Market Share Dropping Below 60%

According to a report by Jinse Finance, data from Coingecko shows that Bitcoin's market dominance has dropped to 58.5%, mainly due to the recent performance of major altcoins such as Ethereum and Ripple. ETH has risen 25.0% over the past seven days, XRP is up 20.4%, while SOL and BNB have increased by 15.4% and 10.2% respectively. Cryptocurrency analyst @DaanCrypto pointed out that most of the top 100 altcoins by market capitalization have outperformed Bitcoin this month, and the collective surge of these leading altcoins is the main reason for Bitcoin's market share falling below 60%.