Bitcoin dominance peaked at 61.53%, the highest level since 2021, on November 18. Since then, dominance has declined, to 58.97% on Tuesday, November 26, 2024.
A decline in Bitcoin dominance usually paves the way for capital to flow into altcoins and a potential comeback in the altcoin season, where at least 75% of tokens outperform Bitcoin in a 90-day timeframe.
During the 2021 bull run, Bitcoin’s dominance dropped to 40%, and altcoins started to surge, resulting in near-double-digit gains for traders during the cycle. A similar occurrence could push altcoin prices higher during this bull run.