📈 Bitcoin dominance ($BTC ) surged to 64.98% in early May — its highest since 2021 — putting a damper on hopes for altcoin season. Analysts say ETH’s weakness and lack of altcoin momentum are key blockers.
🧩 Matrixport’s charts show no strong signals for rotation into alts, while only 24% of altcoins have outperformed BTC in the last 90 days, per Capriole. Bitcoin is clearly soaking up the liquidity.
📉 Some, like analyst Darky, believe BTC dominance may be peaking, possibly opening a window for altcoin gains. But others, like Milk Road, remain skeptical of a near-term shift.
🏦 Institutions like BlackRock and MicroStrategy are now driving Bitcoin demand. Michael Saylor even hinted at a new BTC buy that could push MicroStrategy’s holdings close to 600,000 BTC — not great news for altcoins.
🚀 Until sentiment shifts, Bitcoin is leading the charge while altcoins sit on the bench.
⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.
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