The crypto market has entered a thrilling phase, with Bitcoin hitting a new all-time high at $111,861.22, and altcoins gearing up big. The bullish sentiments led to the total market capitalization soaring to $3.51 trillion, up 3.56%, and 24-hour trading volume jumping over 62% to $192.3 billion. The positive sentiments are further justified by the Fear & Greed Index sitting at a greed score of 73.
Talking about Bitcoin’s current stats, it is currently dealing at $111,486.13, soaring 8.34% intraday. Daily volume for BTC surged 82.64% to $89.74 billion, highlighting increased market participation. The Bitcoin dominance has been stagnant at around 63%.
This bullish move was mainly fueled by Trump’s gala dinner, institutional, and regulatory developments. Successively, JPMorgan’s foray into Bitcoin options, alongside the Senate’s GENIUS Act, ETFs taking up 3,120 BTC have all been catalysts. With the bullish momentum and Bitcoin dominance slowing taking a drop, investors are eyeing the possibility of an altcoin season.
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Bitcoin Dominance and Altcoin Season
Bitcoin dominance has been hovering around 63% over the past 30 days and is currently at 63.90%. However, it’s worth noting that BTC dominance recently broke down from a rising wedge pattern on the daily timeframe, which is a potentially bearish signal.
As per CoinMarketCap, the Altcoin Season Index, currently at 24/100, indicates we are not yet in altcoin season, but the conditions for one are forming. Historically, when Bitcoin breaks ATHs by 10% or more, altcoins tend to follow with 50–200% rallies within 2–4 weeks. For altcoin season to take hold, the following technical thresholds are being watched.
- Bitcoin dominance needs to drop below 61.94% as an early indicator.
- A break below 60.24% dominance would confirm the altseason.
- BTC’s price should ideally move sideways or upward without a crash to maintain confidence across the broader market.
As CryptoBusy suggests, the current strategy is to let Bitcoin lead, while making positions in quality altcoins that haven’t yet surged.
FAQs
Bitcoin dominance is an index that measures BTC’s share of the total crypto market. A falling dominance often leads to rising interest in altcoins.
No, the Altcoin Season Index is at 24/100. However, we have favorable conditions for one.
Historically, when BTC breaks ATH by over 10% and dominance falls below 60.24%, altseason tends to begin within 2–4 weeks.
