The latest Altcoin Season Index from CoinMarketCap stands at 19/100, indicating a strong preference for Bitcoin over altcoins. Bitcoin's dominance is currently at 58.54%, slightly down by 0.1 percentage points in the last 24 hours, reflecting a defensive market stance favoring Bitcoin. Market sentiment is driven by fear, with a fear index of 22/100. Institutional funds are flowing more into Bitcoin ETFs, which have an asset management scale of $126.1 billion, rather than altcoin-related investments. Additionally, liquidity is tightening as derivative trading volumes have dropped by 47.9% and open interest has decreased by 8.3% in the past 24 hours, indicating a reduced risk appetite for altcoins.