The investors are keeping a close eye on the Bitcoin news column, given the crypto’s robust surge to a new all-time high this week.
However, it’s worth noting that it has pared some of its recent gains and slipped below the $123k while writing.
However, despite that, market pundits appear to have remained hopeful over a continuing rally ahead.
Simultaneously, the robust institutional interest, as evidenced by this week’s US Spot Bitcoin ETF inflow, further backs the bullish BTC predictions.
Now, investors have also shifted towards the altcoin sector amid a shifting global focus towards digital assets.
Amid this, market watchers are looking for cues on the potential future movements of the altcoins, as many experts have highlighted the correlation between BTC and its peers.
With Bitcoin price continuing its robust rally, many expect the alts to follow suit.
However, looking at the current BTC dominance, a top expert has warned of a delay in the alt season, saying that the Bitcoin rally might hinder their momentum.
Bitcoin News: BTC Slips Amid Broader Market Retreat
BTC price today has witnessed a pullback to $122,222, after a robust rally over the past few days, hitting an all-time high of $126.19k this week.
However, despite the plunge, its trading volume from yesterday rose 10% to $77.2 billion. Despite the recent losses, Bitcoin price has added gains of over 4% in the weekly chart, while soaring more than 9% in the last 30 days.
On the flip side, derivatives data from CoinGlass showed that BTC Futures Open Interest fell 1% to $90.29 billion.
Meanwhile, one of the key factors behind the recent rally in the flagship crypto could be the soaring institutional interest.
For context, the BTC ETF inflow has been at the top of the Bitcoin news column over the past few days.
According to Farside Investors’ data, the US Spot Bitcoin ETF has recorded an influx of over $2 billion in the first two days of the week.
This comes after the investment instrument saw an inflow of over $3 billion in the prior week.
Considering that, it seems that the Bitcoin price may continue to rally, given the robust interest from large institutions.
What Does it Mean for the Altcoin Sector?
The altcoins are also in the Bitcoin news column, given their correlation with the flagship crypto.
However, it appears that the soaring Bitcoin dominance might delay the much-anticipated altcoin season, as highlighted by the experts.
For context, in a recent Matrixport report, Markus Thielen said that Bitcoin has continued to outperform its peers.
It noted that BNB, Ethereum, and others have recorded a significant surge recently, thanks to the “temporarily” declining BTC dominance.
However, it seems that Bitcoin dominance is once again on the rise, which might hinder or delay the altcoin rally.
Looking at the current Bitcoin dominance chart, Matrixport noted that BTC is “once again reclaiming the leadership in the cycle.”
Meanwhile, this also comes with the analyses of other experts. A flurry of market experts believe that Bitcoin’s run toward the north may force investors to shift focus from the altcoin sector.
However, at the same time, the experts also said that the altcoins will start outperforming Bitcoin before it hits the $200k this cycle.
The post Bitcoin News: Altcoin Season May Get Delayed Due To This appeared first on The Coin Republic.