Altcoins have been dragging their feet this past year, while Bitcoin managed to reach a new all-time high in March.
Tether’s (USDT) dominance in the cryptocurrency market has seen a notable decrease over the last year, hinting at a potential surge in altcoins.
This shift occurs as Bitcoin struggles to break the $69,000 resistance, leading investors to seek new opportunities.
Recent data shows USDT’s market share has dropped notably this past week. Over the month, it fell 4%, though it had risen 27% over the last six months.
On a broader scale, USDT dominance has declined by 28% year-over-year, with only a slight 0.8% increase since the start of 2024, signaling a pause as investors potentially prepare to re-enter the market.
Typically, when USDT’s hold on the market diminishes, it indicates that funds are moving into altcoins, which could spark a rally in this sector.
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