Altcoins Outperform Bitcoin for Nearly 70% of the Week

Seven out of ten altcoins have outperformed Bitcoin (BTC) over the past week. Coins such as Uniswap (UNI), Zcash (ZEC), and Near Protocol (NEAR) were followed by Avalanche (AVAX), Starknet (STRK), Arweave (AR), and Ethena (ENA). Blockbit reported on the altcoin strength and trading trends of large accounts at Hyperliquid. The Bitcoin market dominance contract 'para:BTCD' recorded a price of approximately 59.351, tracking Bitcoin's share in the overall crypto market. Among the strong performers were UNI, ZEC, NEAR, AVAX, STRK, AR, and ENA, spanning different sectors like decentralized exchanges, privacy, and platforms. Hyperliquid noted that some large accounts are directly trading the BTC dominance contract to reflect shifts in relative strength between Bitcoin and altcoins, rather than reacting to Bitcoin's price movements alone. However, it remains unclear if this trend signifies the start of a broad 'altseason,' as not all altcoins moved in the same direction. Future indicators will include whether altcoin outperformance against Bitcoin continues, further declines in BTC dominance, and expansion of relative strength trading by large Hyperliquid accounts.