According to BlockBeats, Matrixport's recent analysis highlights the current state of the cryptocurrency market, emphasizing Bitcoin's continued dominance. The report suggests that for altcoins to gain significant traction, Bitcoin's market dominance would need to decline steadily, indicating a shift in market share towards altcoins.
However, the analysis notes that retail trading activity remains subdued, with speculative futures trading nearing historic lows. This trend suggests that current market demand is almost entirely focused on Bitcoin, primarily in the spot market rather than leveraged derivatives.
Despite the potential for slow growth, Bitcoin remains the most stable trading option in the current market environment. The report anticipates that Bitcoin's price may consolidate over the summer, similar to patterns observed last year, and this trend is expected to continue this year.
