According to CoinMeta, as monitored by in, on August 3rd, the spot trading volume of Bitcoin on Binance and other major trading platforms dropped to levels near the end of the bear market in 2023. During May, Bitcoin accounted for nearly 40% of the trading volume on Binance. Currently, the trading volume of altcoins has risen to 60%, with Bitcoin accounting for 22% and Ethereum about 18%. Analyst Darkfost stated that Bitcoin's price has been fluctuating little over the past few weeks, and the market has entered a dull phase, with some investors turning to altcoins to seize trading opportunities. Some investors are betting that altcoins will outperform Bitcoin in the future, but such strategies carry higher risks.