Bitcoin's dominance in the crypto market continues to rise, despite expectations for an altcoin season.
Bitcoin Dominance: Growth and Factors
Bitcoin's market share has reached 58.8%, marking its highest level since early 2021. Many investors anticipated that altcoins would see a surge in capitalization following Bitcoin's steady growth. However, the current conditions that typically favor alt seasons—such as Bitcoin stability and increased market liquidity—have not yielded the expected outcome.
Why Investors Are Waiting for Alt Season
Investors generally expect altcoins to outperform Bitcoin after the latter consolidates, shifting their assets into alternative cryptocurrencies that offer higher risk and rewards. Despite the emergence of new tokens and the approval of Ethereum ETFs, these factors have not reduced Bitcoin's dominance as anticipated.
Optimism for Altcoins
Analyst Rekt Capital expressed optimism for altcoins' future. He noted that a closure in altcoin capitalization at a specific level could trigger the next major rally. Should altcoins surpass the $250 billion mark, it may signal an upward trend to $315 billion.
Despite Bitcoin's growing dominance, there are reasonable hopes for the altcoin resurgence in the future.
