Bitcoin Price Dominance Declines Early Amid Market Volatility
Crypto analyst Master Kenobi has analyzed Bitcoin price dominance and altcoin season, discussing the implications of recent market volatility.
Bitcoin Price Dominance Trends
In an X post, Master Kenobi noted that Bitcoin's price dominance began declining earlier than expected. The decline, which started 20 days ahead of schedule, follows three consecutive weeks of losses. Currently, Bitcoin’s dominance is experiencing a volatile phase that could persist for some time.
The analyst's chart indicates that Bitcoin's dominance has experienced volatility for 136 days, suggesting this trend may continue until April 6 next year. Master Kenobi believes the market is in a critical stage of capital rotation from Bitcoin profits. Following this period, he anticipates a significant drop in dominance, signaling the onset of the altcoin season. Even if the bull market extends past April 6, this phase is predicted to be particularly beneficial for many altcoins.
Master Kenobi highlighted that the bottom in Bitcoin price dominance on May 14, 2021, coincided with the first peak of that year's crypto market. He expects a similar pattern to emerge now, with the potential bottom occurring in early March rather than April 6.
Bitcoin Halving Insights
Master Kenobi referenced the Bitcoin halving date to support his analysis on dominance trends, noting a brief four-day gap between the halving anniversary on May 11 and the subsequent dominance bottom on May 15 in the previous cycle.
He indicated that the timeline for the bottom in Bitcoin price dominance—and the peak for the crypto market—might extend from April 20 to April 23, 2025. While he cannot specify an exact peak date at this time, he anticipates being able to refine this estimate as time progresses.
Currently, Bitcoin trades at $100,300, down over the last 24 hours, with its dominance at 55.13%, according to CoinMarketCap.
