Odaily Planet Daily News Bitcoin's dominance in the cryptocurrency market (BTC Dominance) has declined recently, and analysts pointed out that this does not mean that the "altcoin season" is coming. Grayscale Research Director Zach Pandl said that when the market focuses on macroeconomic instability and the risks facing the US dollar, Bitcoin's dominance may rise; when the market focuses on various applications of blockchain technology and innovations in the encryption field, Bitcoin's dominance may decline.
Zach Pandl added: "In the next 9 to 12 months, Bitcoin's dominance is more likely to stabilize at around 60% to 70% of the overall market rather than decline sharply. In the next approximately 9 to 12 months, Bitcoin's market share is more likely to stabilize between 60% and 70% of the overall crypto market rather than decline sharply. This judgment is not easy because Bitcoin and altcoins each have different positive factors that may play a role. From a macro perspective, we are bullish on Bitcoin; from a technical development and user adoption perspective, we are also bullish on altcoins. My basic assumption is that Bitcoin's dominance rate will stabilize from now on." (Decrypt)