Currently, the cryptocurrency sector is experiencing an exciting period, as Bitcoin reached a unprecedented peak price of $111,861.22, and various altcoins appear to be preparing for significant gains. This bullish trend has resulted in the total market capitalization rising to approximately $3.51 trillion, marking a 3.56% increase, and the 24-hour trading volume surging beyond 62%, reaching $192.3 billion. The optimistic outlook is further supported by the Fear & Greed Index registering a greed score of 73.
Discussing the latest figures for Bitcoin: At this moment, it’s trading at approximately $111,486.13, experiencing an 8.34% increase today. Moreover, the daily trading volume of BTC has spiked by 82.64%, reaching a staggering $89.74 billion, suggesting heightened market engagement. Additionally, Bitcoin’s dominance remains relatively steady at roughly 63%.
The primary cause of this upward trend was largely due to Trump’s grand dinner, as well as institutional and regulatory advancements. Subsequently, JPMorgan entering Bitcoin options, along with the Senate’s GENIUS Act, ETFs accumulating 3,120 BTC, have all sparked significant developments. With the bullish trend continuing and Bitcoin dominance potentially decreasing, investors are looking forward to the prospect of an altcoin market upswing.
Read our Bitcoin (BTC) Price Prediction 2025, 2026-2030 NOW!
Bitcoin Dominance and Altcoin Season
For the last month, Bitcoin’s dominance has been consistently around 63% and currently stands at 63.90%. It’s important to mention that this dominance level recently broke free from an ascending wedge pattern on the daily chart, which is a possible indication of a bearish trend.
As a crypto investor, I’ve been closely monitoring the Altcoin Season Index on CoinMarketCap, which currently stands at 24/100, suggesting we’re not quite in altcoin season yet, but the signs are starting to appear. Historically, when Bitcoin surpasses its All-Time High (ATH) by 10% or more, altcoins have followed with impressive rallies of around 50-200% within 2-4 weeks. To truly experience an altcoin season, I’m keeping a close eye on these technical thresholds that could signal the start of such a period.
- Bitcoin dominance needs to drop below 61.94% as an early indicator.
- A break below 60.24% dominance would confirm the altseason.
- BTC’s price should ideally move sideways or upward without a crash to maintain confidence across the broader market.
Following the advice from CryptoBusy, our approach currently involves allowing Bitcoin to take the lead, while simultaneously securing positions in high-quality altcoins that have yet to experience significant growth.
FAQs
1. What does Bitcoin dominance represent? It’s a measurement of the percentage share that Bitcoin holds in the overall cryptocurrency market. When it decreases, there is usually increased interest in other cryptocurrencies (altcoins).
2. Is this currently an altcoin boom period? No, the Altcoin Season Index stands at 24 out of 100, indicating unfavorable conditions for such a season. Yet, given the current circumstances, it could potentially be conducive to one.
3. When might we expect the altcoin season to start? Historically, it has begun when Bitcoin sets a new All-Time High (ATH) by more than 10% and its dominance falls below 60.24%. Typically, this transition occurs within 2–4 weeks following these conditions.
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2025-05-22 09:56