“Why haven't altcoins gone up?”
Bitcoin price: $72,000
The answer is simple: Bitcoin dominance.
Currently, Bitcoin dominance is about 60%, meaning that 60% of all cryptocurrency investments are concentrated in Bitcoin. The “altcoin season” you are expecting will come when Bitcoin dominance stops rising and significantly declines.
When Bitcoin reaches new highs and enters a consolidation phase, funds will flow into altcoins. At that time, high-quality altcoins may bring 5-10 times returns within a few weeks. This has been the trend in the past few cycles and is likely to happen again.
When will Bitcoin dominance reverse?
According to historical support levels, Bitcoin dominance is expected to peak around 60-65%. We may be close to the peak, or there may be only a small amount of room left (0-5%). Historically, when Bitcoin dominance drops to about 40-45%, it is usually a signal to start the altcoin market. At this time, it is recommended to take profits and gradually exit the market.
