Bitcoin Dominance Surpasses 60%: Potential Rally Towards $100K

Bitcoin’s market dominance exceeds 60%, reflecting its significant market share amid an explosion in cryptocurrency projects. Bitcoin’s recent price resurgence to $85,000, contrary to Ethereum’s decline, reinforces its leadership. Experts suggest dominance may rise toward 70%, affecting altcoin performance. Current trading indicates resistance at $85,000, with potential for further gains if bullish momentum continues.

Bitcoin’s dominance in the cryptocurrency market has surged past 60%, a significant milestone not seen since 2021. This increase indicates Bitcoin’s substantial share in a now far larger market, which has expanded from 3,000-4,000 projects in 2021 to millions by 2025. This growth highlights Bitcoin’s critical influence, reinforcing its status amid the vast cryptocurrency landscape.

In terms of price action, Bitcoin recently rebounded from a low of $74,000 to approximately $85,000, attributed to favourable US economic indicators and enhanced global liquidity. Although Bitcoin faced rejection at the $86,000 mark, it has remained resilient. Unlike in 2021, when altcoins like Ethereum flourished, the current trend shows Ethereum’s relative strength has dwindled, resulting in a low ETH/BTC ratio, indicating a reduced altcoin market share that underscores Bitcoin’s dominance.

Looking forward, industry expert Arthur Hayes predicts Bitcoin dominance could reach 70%, driven by its appeal as a hedge against inflation, amidst ongoing liquidity boosts. Analyst Rekt Capital notes that an altcoin season may begin when Bitcoin dominance nears 71%, given historical trends where altcoins perform well as Bitcoin’s market share declines. This suggests current dominance levels may signal an upcoming shift in the market.

In the last trading session, Bitcoin started at $83,750 before breaking upwards to $85,100, though corrections pushed it down to lower levels. As of 7:00 AM UTC, Bitcoin stabilised within a range but later saw fluctuations, including a significant dip before recovering to $85,200.

Bitcoin continues to face the challenge of breaking through the critical $85,000 resistance level. This level has historically hindered growth, and failure to establish a sustainable range could lead to a return to support levels. Conversely, a bullish trend could result in Bitcoin approaching $87,000 within the coming days.