On February 6th, COINOTAG reported insights from renowned crypto analyst Rekt Capital regarding the critical indicator of Bitcoin Dominance. For an impending altseason to materialize, it is essential for Bitcoin’s market dominance to exceed the crucial threshold of 70%. Presently, Bitcoin Dominance has fluctuated, reaching a high of 64.3% before retracting to 61%. Despite this pullback, analysis indicates a prevailing upward trend for Bitcoin.
Rekt Capital notes that the previous altseason, which persisted until late 2024, has concluded, and Bitcoin has shown resilience since its dip below 55% in December last year, appreciating approximately 6%. Historical data underscores the significance of the 71% level as a pivotal resistance point for Bitcoin Dominance. Should BTC.D encounter challenges at this level, the cryptocurrency market may witness the commencement of a renewed altcoin season, potentially benefiting a wide range of alt assets.