Altseason on Hold as Capital Concentrates in BTC and ETH

The cryptocurrency market is currently in a consolidation phase, marked by compressed basis rates and declining open interest, as both institutional and retail investors shift capital primarily into Bitcoin (BTC) and Ethereum (ETH). BTC dominance stands at 59.11% and ETH dominance at 12.80%, reflecting a preference for established assets over broad risk exposure, even following a $2 billion liquidation event that Bitcoin absorbed without further selling. Market focus is now heavily dependent on upcoming central bank decisions, specifically the Federal Reserve's rate decision and the Bank of Japan's meeting, which are expected to influence cross-asset volatility. Trading firm Wintermute noted that while there is interest in lower-cap assets for yield capture via delta-neutral strategies, the conditions necessary for a broad altcoin season—such as clearing macro uncertainty and BTC stabilizing above key resistance—are not yet present, keeping altcoins on hold.

(Source：BeInCrypto)