Market analyst James Wynn has projected that Bitcoin’s market dominance (BTC.D) will climb to unprecedented levels before a significant altcoin season materializes. Wynn suggests Bitcoin itself could target a price range of $120,000 to $140,000 during this phase of dominance.
According to Wynn, current market risks stem from excessive leverage among altcoin investors and insufficient hedging against Bitcoin’s inherent price volatility. These factors contribute to the expectation that Bitcoin will continue to overshadow the broader altcoin market for the foreseeable future.
The analyst predicts that Bitcoin Dominance must first reach new highs and subsequently stabilize before a robust altcoin rally can commence. This period of heightened BTC.D is seen as a necessary precursor, delaying the start of the next altcoin season.
Wynn emphasizes that a substantial appreciation in Bitcoin’s price, potentially reaching the $120,000-$140,000 range, is required to set the stage for altcoins to gain significant momentum. Only after BTC.D peaks and begins a sustained decline is widespread altcoin appreciation anticipated.