Amidst the continuing consolidation within the crypto market, an analyst with X pseudonym cryptododo7 has noticed sure developments with the Bitcoin dominance that might spell important implications.
Bitcoin Dominance Climbs Higher As Altcoins Prepare For Takeoff
In a latest X post on March 21, cryptododo7 shared a technical evaluation on the Bitcoin Dominance chart hinting at a attainable 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.
Generally, the bullish pennant kinds after a robust upward value motion as seen in early 2025 within the chart beneath. This value surge (often known as the flagpole) is adopted by a consolidation section by which value actions make greater 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%. However, 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’ value.
Albeit, the analyst additional states this projected dominance prime of 67.51% will probably characterize the height of Bitcoin Dominance on this bear market, signaling a attainable altseason. The altseason, which is a distinguished interval within the crypto market cycle, is marked by altcoins’ outperformance of Bitcoin which is confirmed by a decline in Bitcoin Dominance.
Certain analysts have previously beaten down the chances of an altseason within the present cycle citing an enormous improve in altcoin numbers during the last 4 years. However, different analysts equivalent to Cryptododo7 stay optimistic stating an altseason will seemingly comply with Bitcoin Dominance’s surge to 67.51%. During this era, altcoins are anticipated to expertise large capital inflows probably as excessive as $627 billion.
MACD Curl Hints At Possible Reversal – More Positives For The Altseason?
In different developments, X platform MoreCryptoOnline reports the Weekly MACD (Moving Average Convergence Divergence) of the entire 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 development reversals. And whereas this sign suggests a attainable shift, it stays an early-stage affirmation of the altseason.
At press time, the entire crypto market capitalization stands at $2.76 trillion, with Bitcoin accounting for $1.67 trillion of this worth. Meanwhile, the CoinMarketCap Altseason Index sits at 21, suggesting that an altcoin increase shouldn’t be but imminent.
