The leading cryptocurrency, Bitcoin, is nearing $70,000, but altcoins are not performing as expected. Matrixport, a cryptocurrency service provider, has stated that the altcoin rally season has been delayed due to Bitcoin's dominance of 58%. Despite there being over 20,000 cryptocurrencies, market and investor interest remains focused on Bitcoin. The impact on altcoins from significant capital inflows into spot Bitcoin ETFs has been minimal, indicating that retail investors have yet to enter the market on a large scale. As a result, the altcoin rally season has not started. Matrixport analysts predict that Bitcoin's dominance will continue to grow as trading volumes increase, further delaying the altcoin season.



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