- Rekt Capital analyzed that Bitcoin dominance hit its lowest in December last year, marking the end of the altcoin season.
- Bitcoin dominance has since risen by about 6% and is currently maintaining around 60%.
- He stated that for the altcoin season to regain momentum, Bitcoin dominance needs to exceed 70%.
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According to cryptocurrency media Cointelegraph on the 5th (local time), cryptocurrency trader Rekt Capital analyzed that "Bitcoin (BTC) dominance (the proportion of Bitcoin in the total cryptocurrency market capitalization) hit bottom late last year," and "it seems that the altcoin season has already ended."
He explained, "As a result of analyzing the Bitcoin dominance chart, the 55% recorded in December last year was the lowest level, and it has since risen by about 6%."
He added, "For the altcoin season to regain momentum, Bitcoin dominance needs to exceed 70%, but the current dominance has slightly declined after recently recording 64.3% and is maintaining around 60%."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.PiCK News
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