Bitcoin’s market dominance will jump this quarter and fuel a new all-time high price.
That’s according to a report by CEX.IO, a crypto exchange, that pointed at how Bitcoin’s market dominance tends to increase 2% on average between July and September.
That would “represent over $64 billion in value flowing from altcoins into Bitcoin,” Illia Otychenko, lead analyst at CEX.IO, wrote in the report.
To put that in perspective, a $64 billion reallocation is almost equivalent to the market value of Tron, Doge, and Staked Ether, the eighth, ninth, and tenth largest cryptocurrencies, combined.
Markus Thielen, CEO of 10x Research, offered a similar analysis in a Tuesday report, suggesting that Bitcoin’s price has jumped 10% on average in seven Julys in the last decade. That would put Bitcoin’s price at $116,000 in coming weeks.
To be sure, past performance does not guarantee future results, as investment platform disclaimers are prone to say. Other factors than cyclical patterns are likely to drive the price too.
For example, geopolitical tension, US President Donald Trump’s tariff threats, regulations, and unexpected scandals are just some of the factors that can influence the price.
Even so, Bitcoin traders are gearing up for a price rally.
Traders on Deribit, a crypto derivatives trading platform, have poured into bullish bets that Bitcoin will rally, with 67% of calls only paying out if the price is above $112,000 on July 25.
Bitcoin reached a $111,814 all-time high in May.
Similarly, the chances of Bitcoin reaching another record before August have surged to 63% on Polymarket. Punters on the prediction market platform give the cryptocurrency an 81% chance of the price reaching new heights before October.
This week, David Brickell, head of international distribution at FRNT Financial, and former forex trader Chris Mills predicted that Bitcoin is likely to hit $125,000 in early July, amid the backdrop of de-escalating geopolitical tensions and the easing of the quarter-end liquidity crunch.
Bitwise analysts expect that the price could break even higher, saying the price could hit as high as $136,000 in July.
Crypto market movers
Bitcoin is up slightly by 0.8% over the past 24 hours and is at $107,399.
Ethereum has traded flat over the same period and is at $2,444.
What we’re reading
How a little-known Bitcoin miner surged tenfold as it became an Ethereum treasury company ― DL News
Maple Finance and EtherFi Launch Institutional Loans Backed by weETH ― Unchained
You can now buy OpenAI stock onchain — Milk Road
Senator Lummis Pushes Making Small Crypto Transactions Tax-Free in ‘Big Beautiful Bill’ ― Unchained
Mantle to target Asia first with ‘onchain neobank’ UR ― DL News
Osato Avan-Nomayo is our Nigeria-based DeFi correspondent. He covers DeFi and tech. Got a tip? Please contact him at
[email protected].
