Stabilization of Bitcoin's dominance in the market is expected against the backdrop of economic uncertainty.
AI Summary
According to Odaily, Bitcoin's dominance in the cryptocurrency market has recently decreased, but analysts assert that this does not signal the start of an 'altcoin season.' Grayscale's head of research, Zach Pandl, noted that Bitcoin's dominance may increase when the market focuses on macroeconomic instability and risks facing the US dollar. Conversely, it may decrease when attention shifts to the application of blockchain technology and innovations in the crypto sector.
Pandl also noted that over the next 9-12 months, Bitcoin's market share is likely to stabilize at a level of 60% to 70% of the total market, rather than experiencing a significant decline. He emphasized that predicting this trend is difficult due to various positive factors affecting both Bitcoin and altcoins. From a macroeconomic perspective, there is an optimistic outlook for Bitcoin, while technological advancements and user adoption create favorable conditions for altcoins.
Pandl's main assumption is that Bitcoin's dominance will begin to stabilize from its current position.