Bitcoin Dominance Reaches New Cycle High, Impacting Altcoin Season

Bitcoin dominance has reached a new cycle high, indicating a bearish outlook for altcoins. Analyst Finsends highlighted this trend, suggesting that Bitcoin dominance may peak at 68.56% in July before potentially decreasing to 48%, which could trigger an altcoin season.

Key Insights

Finsends notes Bitcoin dominance feels unlikely to decrease soon, but anticipates a correction.
The projected peak for Bitcoin dominance is 68.56%, with a possible decline thereafter.
Michaël van de Poppe indicated the altcoin season indicator is at a two-year low, typically seen in June or July.
Van de Poppe expects altcoins to outperform Bitcoin once Ethereum initiates an upward trend.
Investors should remain patient as market dynamics evolve.

Currently, Bitcoin is trading around $101,700, reflecting a decrease over the last 24 hours.