‘Outsized’ Altcoin Season Incoming Once Key Bitcoin Metric Reverses Uptrend, According to Crypto Analyst
A closely followed crypto analyst says altcoins may undergo an explosive rally once a key Bitcoin (BTC) metric reverses. In a new strategy session, crypto trader Rekt Capital tells his 536,300 followers on the social media platform X that the Bitcoin dominance (BTC.D) metric may soon enter a downward phase after hitting a historic peak level, setting alts up to outperform the flagship crypto asset. Bitcoin dominance currently stands at 61.86%. Traders use BTC.D to track if altcoins are outperforming Bitcoin as the metric calculates how much of the crypto market cap belongs to BTC. Rekt also says that alts may have smaller rallies when there are temporary BTC.D pullbacks before a trend reversal. “Yes, Bitcoin dominance is in a macro uptrend that could see it revisit 71% over the course of the next few months But as with any macro uptrend pullbacks do happen as part of the journey in the meantime. And it is these pullbacks in Bitcoin dominance that will enab...