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Gate Square New & Returning Creator Rewards are ongoing!
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#百万 $ANLOG Launchpool挖矿进行中 #BTC #ETH
Will 71% trigger the altcoin season?
Bitcoin continues to dominate this market cycle, currently occupying a dominant position of 60.3%, an increase of 4% in just 24 hours. Cryptocurrency analyst Rekt Capital points out that the 71% dominance level is key to triggering altcoin season.
The dominant position of Bitcoin is steadily rising, driven by the demand for spot Bitcoin exchange-traded funds, institutional demand, and its positioning as a reserve asset. Although there are occasional outstanding performances of some altcoins (such as Solana and XRP), funds continue to flow into Bitcoin, leaving altcoins in a dilemma.
In history, Bitcoin's dominance has been rejected from reaching 71% three times, each time leading to months of decline and the rise of altcoins. In 2021, dominance reached 72%, then dropped to 40% within five months, triggering the altcoin season.
Currently, Bitcoin accounts for 60.3% and is still rising. If it reaches 71% and faces rejection again, alternative currencies may surge. However, unlike past cycles, Ethereum may not take the lead this time.
()#Million $ANLOG Launchpool Airdrop is Live #市场触底了吗？ #$BERA Trading Open