Analyst: The decline in Bitcoin's dominant position may indicate that the market has entered a 'copycat season'

According to Cointelegraph, cryptocurrency analyst Mikybull Crypto stated that Bitcoin's dominant position in the cryptocurrency market has fallen to 56.1%, below its two-year support line, indicating that the market has "officially entered the altcoin season", as the decline in Bitcoin's dominant position means that investors are profiting from their BTC positions and investing some funds in altcoins. Since Trump's victory, demand for Ethereum exchange traded funds (ETFs) in the cryptocurrency market has increased by over 160%, further supporting analysts' expectations that Ethereum will rise above $4000.