Bitcoin’s dominance in the crypto market has surged to a cycle high of 58.9% as it inches closer to $70,000. This rise has brought into question the potential for an altcoin season, with Ethereum struggling to gain ground against Bitcoin. While some indicators suggest a possible altseason on the horizon, the total value locked in DeFi protocols has decreased, indicating weak demand for altcoins. Bitcoin is currently trading at $67,769, up 2.5% in the past 24 hours. Analysts remain divided on whether altcoins will see a resurgence in the near future.
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