Bitcoin · Ethereum · Cointelegraph
Bitcoin's crypto market dominance (BTC.D) is also showing early signs of a rebound, which could delay a broader altcoin rally
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The BTC.
Key facts
- In 2021, roughly 106 altcoins had above $1 billion in market valuation, according to CoinMarketCap's historical snapshot
- The BTC.D metric has bounced from its 100-week exponential moving average (100-week EMA, purple) and the lower trend line of an ascending channel, both aligning at the 58.75% level
- Bitcoin's dominance may drop toward its 200-week EMA at 57% if Rekt Capital's bearish scenario plays out
- As of Saturday, the non-BTC, non-stablecoin crypto market was worth roughly $600 billion
Summary
BTC's crypto market dominance is holding above a key support, signaling Bitcoin may keep absorbing capital from altcoins and delay a broader altseason. Cryptocurrency traders are no longer using Bitcoin (BTC) profits to buy altcoins as they did in previous bull cycles, raising doubts about whether a broad “ altseason ” can return. Altcoin capital is increasingly getting concentrated in fewer projects, delaying the altseason. The old altseason trade is no longer working the way it did in previous bull cycles, according to Ki Young Ju, CEO of CryptoQuant. In a Saturday post, Ju said the Bitcoin-to-altcoin rotation trend has “disappeared,” citing CryptoQuant data showing BTC-pair altcoin trading volume has collapsed to its weakest levels since 2021.