According to Odaily, Bitcoin's dominance in the cryptocurrency market has recently declined, but analysts suggest this does not signal the onset of an 'altcoin season.' Grayscale's Head of Research, Zach Pandl, noted that Bitcoin's dominance might increase when the market focuses on macroeconomic instability and risks facing the U.S. dollar. Conversely, it may decrease when attention shifts to blockchain technology applications and innovations in the crypto sector.
Pandl further stated that over the next 9 to 12 months, Bitcoin's market share is likely to stabilize between 60% and 70% of the overall market, rather than experiencing a significant drop. He emphasized that predicting this trend is challenging due to the different positive factors influencing both Bitcoin and altcoins. From a macroeconomic perspective, there is a bullish outlook for Bitcoin, while technological advancements and user adoption present favorable conditions for altcoins.
Pandl's fundamental assumption is that Bitcoin's dominance will begin to stabilize from its current position.
