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bitcoin

Is Bitcoin Dominance About To Give Way To Altseason? Analysts React

Ash Tiwari
by Ash Tiwari
8 months ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin (BTC) tumbled from a high of $108,135 on December 17 to $99,500, following US Federal Reserve (Fed) Chair Jerome Powell’s hawkish remarks yesterday. However, some crypto analysts are pinning their hopes on a potential decline in Bitcoin Dominance (BTC.D) that may pave the way for an altseason.

What Caused The Crypto Market Crash?

Since yesterday, the total crypto market cap has fallen by more than 6%, with the bulk of the losses recorded in altcoins. In absolute terms, over $200 billion has been wiped out from the crypto market in the past 24 hours.

Related Reading: Bitcoin Stays Above $100K With Futures Basis Below 15% – Is Another Surge Coming?

Powell’s hawkish statements triggered the decline in the crypto market, which suggested that the Fed’s battle against inflation is not over yet. Powell indicated that there might only be two interest rate cuts in 2025 instead of three.

Additionally, the Fed has raised the 2025 inflation forecast from 2.1% to 2.5%. Even the 2026 forecast is pegged at 2.1%, higher than the central bank’s goal of 2%. The Fed sees inflation as an issue that might persist for another two years, resulting in interest rates remaining high for longer than initially anticipated.

The crypto market reacted negatively to Powell’s statements, resulting in liquidations exceeding $850 million in the past 24 hours. Nevertheless, some crypto analysts view the fall as an opportunity to accumulate altcoins, expecting BTC.D to decline in the coming days.

Is Bitcoin Dominance About To Collapse?

According to the following chart, during the weekly timeframe, Bitcoin Dominance has been on a continual uptrend for the past two weeks, rising from 56.24% to 58.50% at the time of writing. Some analysts are confident that BTC.D is forming a lower high, which may be followed by a steep decline leading to a full-fledged altseason.

Related Reading: Altcoin Season Not Dependent On Bitcoin’s Dominance Chart, Market Expert Claims
bitcoin dominance
Source: BTC Dominance (BTC.D) on TradingView.com

Bitcoin analyst Eric Crown took X to share his thoughts on the BTC.D chart. The analyst noted that the metric may fall to 54% after a small surge to 59%. 

Another crypto analyst @CryptoGoos noted that BTC.D top is already in. The trader added that the altcoin season will likely continue after BTC.D gets rejected from resistance levels between 58% and 59%.

Similarly, Bitcoin and stock market analyst Seth highlighted BTC.D’s behavior during the last two market cycles. He stated that BTC.D might follow a similar trajectory this cycle, consolidating at a key support level of around 58% before an eventual crash.

btc.d
Source: seth_fin on X

That said, former BitMEX exchange CEO Arthur Hayes recently shared his crypto market outlook, predicting a “harrowing dump” around US President-elect Donald Trump’s inauguration on January 20, 2025. BTC trades at $100,978 at press time, down 3% in the past 24 hours.

bitcoin
BTC trades at $100,978 on the daily chart | Source: BTCUSDT on TradingView.com
Featured Image from Unsplash.com, Charts from X and TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Ash Tiwari

Ash Tiwari

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Ash is a seasoned freelance editor and writer with extensive experience in the blockchain and cryptocurrency industry. Over the course of his career, he has contributed to major publications, playing a key role in shaping informative, timely content related to decentralized finance (DeFi), cryptocurrency trends, and blockchain innovation. His ability to break down complex topics has allowed both seasoned professionals and newcomers to the industry to benefit from his work. Beyond these specific roles, Ash's writing expertise spans a wide array of content, including news updates, long-form analysis, and thought leadership pieces. He has helped multiple platforms maintain high editorial standards, ensuring that articles not only inform but also engage readers through clarity and in-depth research. His work reflects a deep understanding of the rapidly evolving blockchain ecosystem, making him a valuable contributor in a field where staying current is essential. In addition to his writing work, Ash has developed a strong skill set in managing content teams. He has led diverse groups of writers and researchers, overseeing the editorial process from topic selection, approval, editing, to final publication. His leadership ensured that content production was timely, accurate, and aligned with the strategic goals of the platforms he worked with. This has not only strengthened his expertise in content strategy but also honed his project management and team coordination skills. Ash's ability to combine technical expertise with editorial oversight is further bolstered by his knowledge of blockchain analysis tools such as Etherscan, Dune Analytics, and Santiment. These tools have provided him with the data necessary to create well-researched, insightful articles that offer deeper market perspectives. Whether it’s tracking the movement of digital assets or analyzing blockchain transactions, his analytical approach adds value to the content he produces, ensuring readers receive accurate and actionable information. In the realm of content creation, Ash is not limited to just cryptocurrency markets. He has demonstrated versatility in covering other emerging technologies, market trends, and digital transformation across various industries. His in-depth research, coupled with a sharp editorial eye, has made him a sought-after professional in the freelance writing community. From developing editorial calendars to managing content delivery schedules, he has honed a meticulous approach to project management that ensures timely, high-quality work delivery. Throughout his freelance career, Ash has consistently focused on improving audience engagement through well-researched, insightful, and relevant content. His ability to adapt to the evolving needs of clients, whether it's enhancing the visibility of digital platforms or producing thought-provoking pieces for a wide range of audiences, sets him apart as a dynamic force in the field of digital content creation. His contributions have helped to shape a well-rounded portfolio that showcases his versatility, technical expertise, and dedication to elevating the standards of journalism in blockchain and related sectors.

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