Amidst the continuing consolidation within the crypto market, an analyst with X pseudonym cryptododo7 has noticed sure developments with the Bitcoin dominance that would spell vital implications.
Bitcoin Dominance Climbs Increased As Altcoins Put together For Takeoff
In a latest X post on March 21, cryptododo7 shared a technical evaluation on the Bitcoin Dominance chart hinting at a doable altseason. The crypto analyst famous that Bitcoin Dominance could also be poised for a sustained uptrend following a breakout and profitable retest of a bullish pennant formation on the 61.25% stage.
Typically, the bullish pennant varieties after a powerful upward worth motion as seen in early 2025 within the chart beneath. This worth surge (referred to as the flagpole) is adopted by a consolidation part through which worth actions make larger lows and decrease highs thereby forming a symmetrical triangle i.e. the pennant.
With a profitable breakout and retest of the bullish pennant, Bitcoin Dominance has confirmed expectations of a serious surge, with Cryptododo7 predicting a possible goal of 67.51%. Nevertheless, the crypto analyst cautions that this rise could not sign a market-wide rally, as Bitcoin Dominance could surge alongside a decline in Bitcoin and altcoins’ worth.
Albeit, the analyst additional states this projected dominance prime of 67.51% will probably symbolize the height of Bitcoin Dominance on this bear market, signaling a doable altseason. The altseason, which is a outstanding interval within the crypto market cycle, is marked by altcoins’ outperformance of Bitcoin which is confirmed by a decline in Bitcoin Dominance.
Sure analysts have previously beaten down the chances of an altseason within the present cycle citing an enormous enhance in altcoin numbers over the past 4 years. Nevertheless, different analysts akin to Cryptododo7 stay optimistic stating an altseason will doubtless comply with Bitcoin Dominance’s surge to 67.51%. Throughout this era, altcoins are anticipated to expertise huge capital inflows probably as excessive as $627 billion.
MACD Curl Hints At Attainable Reversal – Extra Positives For The Altseason?
In different developments, X platform MoreCryptoOnline reports the Weekly MACD (Shifting Common Convergence Divergence) of the whole crypto market cap (excluding the highest 10 cash) is starting to curve upwards indicating a possible bullish shift within the altcoin market.
For context, the MACD is a generally used momentum indicator that helps determine potential pattern reversals. And whereas this sign suggests a doable shift, it stays an early-stage affirmation of the altseason.
At press time, the whole crypto market capitalization stands at $2.76 trillion, with Bitcoin accounting for $1.67 trillion of this worth. In the meantime, the CoinMarketCap Altseason Index sits at 21, suggesting that an altcoin increase just isn’t but imminent.