A closely followed crypto analyst says that once a key Bitcoin (BTC) metric reverses, altcoins may print explosive rallies.
Crypto trader Rekt Capital tells his 549,600 followers on the social media platform X that the Bitcoin dominance (BTC.D) metric may enter a downward phase after hitting a historic peak level, setting the stage for alts to outperform the flagship crypto asset.
“BTC dominance: if history repeats, the real altseason everybody is waiting for would begin once Bitcoin dominance rejects from 71% (red).”
BTC.D is a metric that calculates how much of the crypto market cap belongs to Bitcoin. A bearish BTC.D chart indicates that altcoins are printing gains faster than BTC.
The analyst also says BTC.D may not hit exactly 71% before reversing, but somewhere within that area.
“There really is no point in arguing about whether BTC.D will ultimately top out at 71% or at 69% or at 67%. The majority of the Bitcoin dominance macro uptrend has already taken place. And just like in every BTC.D cycle, it got close to 71%.”
Lastly, the analyst says that as BTC.D rises to its peak, altcoins won’t completely collapse in value, but may have significant corrections before the altseason begins.
“This past February, Bitcoin dominance rallied from 58% to 64%. That’s a 6% increase. Now, Bitcoin dominance is only [5.7%] away from 71%. Altcoins won’t go to $0.00. Instead, [alts] may react similarly to February 2025.”
Bitcoin dominance currently stands at 65.30%.
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Generated Image: Midjourney
Read the full article here
