BTC.D has risen to 65%! What does this mean?

BTC.D (Bitcoin Dominance) breaking through 60% is a significant event indicating the market is entering a phase of "Bitcoin Standard" reinforcement. Historical data shows that when BTC.D exceeds 60%, it often triggers two extreme trends:

Continuation of the siphoning effect: Bitcoin continues an independent trend by absorbing market liquidity (for example, after breaking 60% in Q1 2021, it rose to $69,000);

Precursor to altcoin season: Funds shift from Bitcoin to altcoins (for example, after breaking 60% in 2019, the average quarterly increase in altcoins was 312%).

The current market is in a sensitive period following the threshold breakout. Unlike in 2021, this round of BTC.D's rise is accompanied by institutional holdings exceeding 23%, and the market cap of stablecoins has not expanded simultaneously, indicating that funds are coming more from institutions rather than retail investors. This structural difference may change the traditional rotation rhythm.

Personally, I tend to lean towards the former; the Bitcoin siphoning trend will likely continue for a longer period!