Odaily Planet Daily reported that Bitcoin's dominance in the cryptocurrency market (BTC Dominance) has recently declined. Analysts point out that this does not mean that an 'altcoin season' is about to arrive. Grayscale Research Director Zach Pandl stated that Bitcoin's dominance may rise when the market is focused on macroeconomic instability and the risks facing the dollar; conversely, when the market is focused on various applications of blockchain technology and innovations in the crypto space, Bitcoin's dominance may decline. Zach Pandl added, 'In the next 9 to 12 months, Bitcoin's dominance is more likely to stabilize around 60% to 70% of the overall market rather than decline significantly. Within the next approximately 9 to 12 months, Bitcoin's market share is more likely to stabilize between 60% and 70% of the overall crypto market rather than experience a sharp decline. This judgment is not easy, as both Bitcoin and altcoins have different favorable factors that may play a role. From a macro perspective, we are bullish on Bitcoin; from the perspective of technological development and user adoption, we are also optimistic about altcoins. My basic assumption is that Bitcoin's dominance will stabilize from the current level.' (Decrypt)

#BTC