Altcoin Market Cap Gains 21% in Month but Lags Behind BTC's Rise

Altcoin market capitalization has risen 21% over the past month, but their market share within the broader cryptocurrency market has fallen by 0.9 percentage points over the last 90 days, according to on-chain data analytics firm Glassnode. While funds have flowed into the altcoin market amid Bitcoin's (BTC) recovery, BTC's market cap growth has outpaced that of altcoins, leading to a decline in their market share. Market participants are closely watching the U.S. Senate's Clarity Act procedural vote on May 15 and the Federal Reserve's interest rate decision on May 16 as key factors determining whether funds will continue flowing into altcoins. Indicators such as ETH/BTC ratio, altcoin market share, and Bitcoin spot ETF fund flows are being monitored to gauge the extent of market recovery.