Bitcoin (BTC) saw moderate gains over recent days, climbing to nearly $118,000 before settling around $117,000. Despite this recovery from an August 3 low of $112,000—triggered by global economic uncertainty and geopolitical tensions—BTC's market dominance dropped 2% to 58% as altcoins surged ahead.
Ethereum (ETH) spearheaded the rally, reaching $4,200, a three-and-a-half-year high. Major altcoins like Dogecoin (DOGE), Chainlink (LINK), and Hype (HYPE) gained up to 8%, while Ethena (ENA) skyrocketed 20% to $0.73 and Pepe (PEPE) rose 11%. Mid-cap tokens including Cronos (CRO), Uniswap (UNI), and Monero (XMR) also posted significant gains.
The broader cryptocurrency market capitalization surged by $200 billion since Thursday, reclaiming the $4 trillion threshold. This shift highlights growing altcoin momentum and reduced Bitcoin dominance amid renewed altseason speculation.