#Gate广场五月交易分享 The crypto market funds are concentrating in Bitcoin; can altcoins see a rebound opportunity?

Funds in the crypto market are focusing on Bitcoin, and this indicator is gradually rising, indicating that the bullish trend continues to favor BTC rather than the broader crypto market.
Bitcoin shows signs of recovery, with altcoins lagging behind BTC in the rebound speed, but several indicators have already started to improve.
Although most altcoins have been under pressure during this period, the total market capitalization of the crypto market excluding Bitcoin and Ethereum, TOTAL3, has increased by 17%, reaching a two-month high of $765 billion.
A crypto analyst stated that since the February 6 low of $60,000, Bitcoin has risen by 36%, driving its dominance rate up to 61.3%.
 Altcoin trading volume diverges
Another market analyst pointed out that increased activity on centralized exchanges (CEX) is another sign of improved participation outside of Bitcoin.
The analyst said that after excluding the top five cryptocurrencies by market cap, altcoin trading volume has steadily increased over the past few weeks.
Additionally, the 90-day AltSeason Index has risen to 28.6, marking the fastest rebound in months.
This index measures whether most altcoins outperform Bitcoin during a specific period.
A reading above 75 is usually associated with a stronger altcoin cycle.
Overall improvement
The current average altcoin price is 23.47% below the 200-day simple moving average, narrowing from 44.4% earlier in this cycle.
Similar readings have previously appeared near the end of the 2022 bear market.