Bitfinex: Altcoins may outperform Bitcoin in the coming months

ChainCatcher news, the Bitfinex Alpha report provides predictions on the potential performance of the cryptocurrency market. As Bitcoin's dominance declines and altcoins show resilience, the report indicates that market dynamics may be shifting.

Analysts further explain that the open interest in altcoins has dropped 55% from its historical high, suggesting a decrease in speculative activity and that sellers may be exhausted. The ETH/BTC ratio remains below its 365-day simple moving average, indicating that ETH has generally underperformed since the merge.

The report also adds that if Bitcoin's dominance has indeed reached a local top, we may see a period of altcoins outperforming in the coming months, which could lay the groundwork for a bullish fourth quarter if macroeconomic pressures ease.