Recent data indicates a renewed surge in interest towards cryptocurrencies.
According to Google Trends, searches for the term “altcoin” have reached the highest level in the past five years. In the same period, the number of searches for “Ethereum 
$4,337” has also peaked, hitting a two-year high.
Surging Search Trends
As retail interest in the crypto market grows, it coincides with a decline in Bitcoin’s market dominance. These developments suggest the possibility of a broader altcoin surge, often referred to as an “altseason.” Similar historical interest was seen during Ethereum’s rapid ascent, preceding a significant rally in altcoins.
Particularly concerning Ethereum, this increase harks back to powerful past cryptocurrency uptrends. Many experts interpret this rise in search volume as an indicator of market volatility. Data sourced from CoinGecko and Google Trends provides valuable insights into wider market trends.
Declining Bitcoin Market Dominance
Bitcoin’s market dominance dropping to around 60% could signal potential growth in altcoins. Historically, decreased Bitcoin 
$115,738 dominance has resulted in substantial price increases for cryptocurrencies like Ethereum, Solana 
$183, and XRP. Ethereum recently surpassed $4,500, achieving a multi-year high.
This market activity is not limited to retail investors alone. Institutional interest shows a marked increase, with CoinShares data highlighting record levels of digital asset fund inflows by the end of July.
Institutional Investments and TVL Records
A CoinShares report reveals total inflows of $4.3 billion, with a significant portion of $2.12 billion directed solely into Ethereum funds. This marks the highest weekly inflow for Ethereum to date. The interest in crypto investment funds suggests a new era for institutional engagement.
CoinShares noted: “The interest in Ethereum hit an all-time high weekly inflow, reaching record levels for total fund inflow.” Additionally, the total value locked (TVL) in the crypto sector rose to a record $300.5 billion. This situation highlights both retail and institutional interest converging in the crypto market, fostering an environment that supports increased market activity.
Analysts suggest that Bitcoin’s short-term movements might impact the momentum of the altcoin market. If Bitcoin remains stationary, upward movement in altcoins could continue. However, renewed Bitcoin dominance might restrict altcoin market rises.
Recently, despite fluctuations, Bitcoin’s price remained stable at around $117,500 over the past 24 hours according to CoinGecko data. Other positive market predictions foresee higher levels for Ethereum by the year’s end.
The cryptocurrency market appears to be experiencing a phase of high interest from both individual and institutional investors. The market’s future depends on the dynamics of major assets like Bitcoin.
