The dominance rate of Bitcoin has climbed to 58.8%, reaching a new high since the beginning of 2021

Golden Finance reports that Bitcoin's dominance (proportion of total cryptocurrency market value) has risen from 51% in December last year to 58.8%, a new high since the beginning of 2021, breaking the market's expectation for the "altcoin season". Traditional theory believes that after Bitcoin rises, funds will rotate to higher-risk altcoins, but this cycle has seen structural changes: institutions continue to increase holdings: companies like MicroStrategy have issued targeted additional fundraising to buy BTC, forming continuous buying pressure; new tokens are flooding and diverting liquidity from altcoins; ETF effect differentiation: Bitcoin and Ethereum spot ETFs attract funds but fail to drive other altcoins' general rise. Analysts point out that the altcoin market may be delayed rather than disappear, and breakthroughs in areas such as RWA and AI will still attract fund rotation.