Bitget Research: Shitcoin Season Index Showing an Uptrend, Funds May Short-Term Rotate to Shitcoins

BlockBeats News, July 24th, Bitget Research Institute Chief Analyst Ryan Lee stated that recently Bitcoin's dominance has fallen to the 59%-61% range, while the Altseason Index has shown an upward trend, indicating that funds are flowing into mainstream altcoins such as Ethereum, XRP, Solana, and other altcoins, with recent gains of 20%-40%.

Ryan Lee pointed out that "The active performance of AI, RWA, and Memecoin sectors also demonstrates the market's strong focus on specific narratives. However, the Altseason Index has not yet broken through the 75% confirmation threshold. The current market trend is more likely a phased rotation rather than the full launch of the altseason. To sustain the market trend into the later stages of the third quarter, the key lies in whether Bitcoin's market dominance can remain below 60%. Additionally, signals confirming the start of the altseason include institutional fund inflows, regulatory positivity, and fundamental improvements in the Layer1 and DeFi sectors."