Bitcoin Dominance Hits New Cycle High Above 66% – How This 4-Year ATH Affects Altcoin SeasonBitcoin Dominance Hits New Cycle High Above 66% – How This 4-Year ATH Affects Altcoin Season
Summary
Bitcoin dominance has reached a new cycle high, suggesting a bearish outlook for altcoins and delaying any potential altcoin season. Analyst Finsends indicated that Bitcoin dominance could peak at 68.56% by July before a decline, potentially dropping to 48%, which may allow altcoins to gain significantly in the latter half of the year. Michaël van de Poppe noted that the altcoin season indicator is at its lowest in two years, with historical lows occurring in June or July. He emphasized that altcoins require upward momentum from Ethereum, driven by Bitcoin's performance, to begin outperforming. Currently, Bitcoin is trading at approximately $101,700, reflecting a decrease over the past 24 hours.
