ETH/BTC Ratio Hits 3-Month High: But Don’t Count on Altcoin Season Yet

The ETH/BTC ratio briefly topped 0.030 this week, its highest level in three months. However, Bitcoin (BTC) dominance climbed at the same time instead of falling.

That combination points to capital concentrating in the market's two biggest assets, not spreading into the wider altcoin field.

Two Winners, Not a Broad Rally

Bitcoin's dominance sits near 58.7%, and it gained ground over the past day, but in general, it has been relatively steady. At the same time, Ethereum's (ETH) share climbed to 10.5%. The category tracking everything else, thousands of smaller tokens outside the top two, has been on a slide and dropped to 30.8%.

The Rest of the Market Keeps Shrinking

This squeeze isn't new. Altcoin sell pressure outside Bitcoin and Ethereum ran for 15 straight months through mid-June. BitMine chairman Tom Lee still calls the ETH/BTC move a bullish signal for crypto overall:

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