Bitcoin Struggles to Hold Ground as XRP Overtakes McDonald’s in Market Cap
Traders Split Over Whether BTC Rally Has Peaked as Altcoins Gain Ground
Bitcoin Loses Steam While Altcoins Heat Up
Bitcoin’s inability to reclaim $120,000 has traders divided over the sustainability of the current bull run. At Monday’s Wall Street open, Bitcoin (BTC) traded at $117,132, marking a continued stagnation as altcoins like Solana (SOL) and Dogecoin (DOGE) surged nearly 10% in 24 hours.
The shifting momentum is fueling speculation that a full-scale “altseason” is now underway. Bitcoin’s dominance in the total crypto market cap has dropped from 64% to 60%, raising questions about whether BTC can maintain its leadership in the digital asset space.
In a symbolic moment for crypto, XRP’s market capitalization climbed to $3.54, surpassing the iconic fast-food giant McDonald’s. The achievement comes amid strong weekly performance, reinforcing investor enthusiasm around altcoins.
Crypto market cap combined chart. Source: Keith Alan/X
QCP Capital, in a bulletin to its Telegram subscribers, pointed to this shift as evidence that “altcoin season is finally upon us.” They noted that altcoin season indexes have risen above 50, the highest since December last year.
Material Indicators: BTC May Still Have One More Leg Up
Despite the growing dominance of altcoins, some analysts believe Bitcoin could stage a comeback.
BTC/USD 1-week chart. Source: Material Indicators/X
Keith Alan, co-founder of Material Indicators, suggested that a pullback toward Bitcoin’s prior all-time high of $110,000 could serve as a springboard for the next rally.
“If we’re lucky enough to get that move, it would validate foundational support for the next leg up,” Alan said. “It also might trigger a rotation from Alts back into Bitcoin and mark the top of the Alt rally.”
Their analysis included a potential $1 trillion total market cap for top 100 altcoins (excluding ETH and stablecoins), if the current capital rotation trend continues.
BTC/USD chart with RSI, MACD data. Source: Roman/X
Roman: ‘BTC Bull Run Likely Close to Over’
Trader Roman expressed a far more bearish view. Analyzing weekly charts, he flagged signals of exhaustion in Bitcoin, citing bearish divergence on RSI and MACD indicators and low trading volume near all-time highs.
“BTC.D dumping & alts running which further proves liquidity is rotating — ending the bull run,” Roman posted. “Buy alts while you can. BTC is likely close to over.”
Ethereum, ETH Market Share Rising
Meanwhile, Ethereum’s (ETH) market share has risen from 9.7% to 11.6% in just one week, mirroring BTC’s decline. According to QCP Capital, this trend may mark a key turning point for the crypto market.
As altcoin enthusiasm spreads and dominance metrics shift, market participants are watching to see whether this represents a temporary rotation or a broader structural change in investor preferences.
Bitcoin crypto market cap dominance 1-day chart. Source: Cointelegraph/TradingView
Conclusion: A Market in Flux
With Bitcoin underperforming and altcoins rallying, the crypto market appears to be in a transitional phase. Whether Bitcoin reclaims dominance or altcoins lead a longer-term charge remains to be seen — but the numbers are clear: capital is moving, and sentiment is shifting
Rhapsody of Realities is a life guide that brings you a fresh perspective from God’s Word every day. It features the day’s topic, a theme scripture, the day’s message, the daily confession and the Bible reading plan segment. It is God's Love Letter to You!
