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Bitcoin reached fresh all-time highs of $123,120 last week before cooling off into sideways consolidation, marking a 65.3 percent rally from April’s lows. As Bitcoin paused, altcoins surged aggressively, with many large caps like Ethereum and XRP outperforming for the first time in months. This shift in momentum triggered a 6.9 percent decline in Bitcoin dominance, the largest since December 2023, suggesting the market is rotating into higher beta assets, a hallmark of mid-cycle expansion phases.