Those unexpected freebies were largely channeled into the crypto market, which caused frenzied trading in the altcoin market. Bitcoin's dominance rate, or its share in the total crypto market cap, collapsed to 39% from 73% in six months to May 2021. It remains to be seen if the potential tariff dividend to the American people has a similar impact of broadening the crypto market bull run. Another reason is the vastly larger total crypto market cap itself, which has capped indiscriminate rallies in the broader market. "Higher rates and vastly larger market cap make indiscriminate altcoin rallies far less likely," De Maere said.