[Analysis] Bitcoin Dominance Surpasses 61%... "Altcoin Short-term Rally Has Ended"
Summary
- Analysis shows that with Bitcoin's market share rising to 61.2%, the short-term rally of altcoins has ended.
- Matrixport assessed that the rise in Bitcoin dominance is clear evidence indicating the end of the altcoin rally.
- The surge in dominance suggests that the possibility of funds moving to altcoins with the end of the cycle has decreased.
Recent analysis suggests that as Bitcoin (BTC)'s market share in the cryptocurrency market has soared to 61.2%, the short-term rally of altcoins has effectively ended.
According to Matrixport data cited by Cointelegraph on the 13th (local time), Bitcoin dominance recorded 61.2% on the 12th, a significant increase compared to its December low of about 54%.
Regarding this, Matrixport evaluated that "the rise in Bitcoin's dominance is clear evidence that the altcoin rally has already ended as a short-term phenomenon."
Generally, in the cryptocurrency market, Bitcoin dominance tends to decrease toward the end of a cycle as funds move to altcoins. This rapid increase in dominance is interpreted as a signal that further rises in altcoins have become difficult.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.![[Exclusive] KakaoBank meets with global custody heavyweight…possible stablecoin partnership](https://media.bloomingbit.io/PROD/news/a954cd68-58b5-4033-9c8b-39f2c3803242.webp?w=250)
![Trump ally Myron, a Fed governor, resigns White House post…pushing for rate cuts until Warsh arrives? [Fed Watch]](https://media.bloomingbit.io/PROD/news/75fa6df8-a2d5-495e-aa9d-0a367358164c.webp?w=250)
