Bitcoin's Dominance Slips as Altcoins Surge: Ethereum Leads the Charge

Hold onto your hats, crypto fans! Bitcoin's long-awaited rally has finally spilled over to the rest of the market, and altcoins are stealing the show. Bitcoin's dominance took a nosedive, dropping a whopping 3.35% to a three-month low of 60.8%. Meanwhile, Bitcoin itself only lost a measly 0.59%, dipping below $118,000. But who cares about that when altcoins are on fire?

On July 18th, the altcoin season kicked off with a bang, and Ethereum (ETH) is leading the charge. This beast of a cryptocurrency soared 5.56%, thanks to a flood of ETF inflows. Ethereum's dominance shot up 1.87%, and its price even briefly broke through $3,600 for the first time since January. Talk about a comeback!

But wait, there's more! Ethereum is pulling in ETF money like a magnet, with a staggering $727 million pouring in on July 16 alone. BlackRock's ETHA alone accounted for nearly $500 million of that haul. And get this: monthly inflows for Ethereum skyrocketed 36%, leaving Bitcoin ETFs in the dust with their measly 10% growth.

Regulatory Tailwinds Give Ethereum and Altcoins a Boost

It's not just Ethereum that's feeling the love. Other altcoins are raking in gains left and right as savvy traders cash in their Bitcoin profits and dive into tokens with even more potential. And what's fueling this risk appetite? Three game-changing crypto bills that just passed, ready to shake up the industry like never before.

The star of the show is the Clarity Act, which finally draws a line in the sand between the SEC and the CFTC. This is a game-changer for altcoins, especially Ethereum. Before, almost all altcoins were treated like securities, shackled by strict laws. But now, the floodgates are open for more institutional investment and participation.

Ethereum, as the granddaddy of smart contract blockchains, is sucking up institutional cash like a vacuum. And with these new laws in place, even the most conservative investors might start looking beyond Bitcoin for their crypto fix. Buckle up, folks - the altcoin party is just getting started!