Absolutely, this is a noteworthy observation. In the past, whenever institutions made large purchases of Bitcoin, BTC dominance in the market typically rose, reflecting a strong focus and confidence in Bitcoin. However, even though they are still buying significant amounts of BTC now, BTC dominance is trending downward. This suggests that capital is being distributed more broadly across other crypto assets, especially Ethereum and popular altcoins.

This could indicate a structural shift in the market, where investors are increasingly interested in diversification rather than placing all their bets on Bitcoin. Moreover, DeFi, AI-related tokens, and emerging Layer 2 projects are gaining more attention, diverting some of the capital that would have traditionally flowed into BTC. This trend is worth watching closely: if Bitcoin's price increases no longer lead to a rise in dominance, it may signal that the market no longer revolves solely around Bitcoin. In the future, we might see a more diversified and balanced crypto ecosystem taking shape.