Bitcoin’s Market Grip Tightens—Dominance Hits Record High

Bitcoin isn’t just leading the crypto pack—it’s lapping it. The original cryptocurrency now commands over 60% of the total market cap, leaving altcoins scrambling for scraps.

Why this matters: When BTC flexes, the whole market moves. Traders are piling in as institutional adoption grows—while Ethereum and friends watch from the sidelines.

The kicker? This surge comes as traditional finance giants finally ’discover’ crypto—just in time to miss the real gains, as usual.

$99,271 is closely observed not just for its price, but its dominance over the market as well. According to analyst Rekt Capital, Bitcoin’s dominance might cross 65%, signaling a critical threshold. While the cryptocurrency market shapes itself around Bitcoin’s momentum, altcoins are struggling to capture a significant share of this surge. Whether the 71% band foreshadows the next wave or hints at a sharp pullback remains to be seen over time.

ContentsBitcoin’s Path to 71% Market DominanceCurrent Performance of Ethereum and Other Altcoins

Bitcoin’s Path to 71% Market Dominance

Bitcoin’s dominance over the market has steadily risen over the past months. Currently, it holds 65.38% of the total cryptocurrency market value. This figure is quite remarkable, as investors flock to Bitcoin, perceived as a safe haven, leaving other cryptocurrencies temporarily sidelined. This surge directly influences market sentiment.

Close monitoring is required for the 71% level, as historical data identifies it as a significant resistance area. In previous cycles, blockages occurred at this point, followed by declines. If a similar pattern emerges, the anticipated altcoin season could be triggered. Conversely, a brief consolidation period for Bitcoin could ensue. The market always holds the potential for breathtaking turns.

Current Performance of Ethereum and Other Altcoins

Bitcoin climbing over the $97,000 level has overshadowed the momentum of altcoins. Ethereum (ETH)$1,938, the largest altcoin, sees its market dominance drop to 7.5%. This decline paints a stark contrast with its 22% dominance in 2022. Ethereum remains in Bitcoin’s shadow, pushing investors to seek alternative options.

Currently, the Altcoin Season Index stands at 33. For a full-blown altcoin rally, at least 50 out of 75 altcoins need to outperform Bitcoin. At this point, the index needs to approach the 50 level. Such a move could shift attention towards altcoins.

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