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#Altcoins Rally# The most striking signal in the market structure was the break of the 2.5-year rise trend above the 50-week exponential moving average (W50EMA) of TradingView's Bitcoin Dominance Index BTC.D( in the first half of August. The index dipped below the threshold and confirmed the trend reversal with the following two-week candle. BTC.D is at 59.49 percent today.
There is also a shift in capital flows in favor of Ethereum. BitMine has consolidated its position as the world's largest Ethereum treasury with approximately $6.6 billion in assets. Entries into Ethereum ETFs on Wall Street have also recently outpaced Bitcoin-based ETFs. Moreover, Google searches and the protected supply dynamics of Zcash have increased interest in privacy-focused altcoins. All this data provides further evidence supporting the narrative of the transition from Bitcoin to altcoins.