Bitcoin demonstrates resilience near the $105,000 price level, maintaining bullish sentiment even as historical trends suggest potential headwinds for the third quarter. Market indicators present a complex picture: Bitcoin dominance remains exceptionally strong at 65.5%, while low altcoin interest reinforces BTC’s leadership position.
Analytics reveal Bitcoin gained 31% in Q2 2024, slightly exceeding the 27% historical quarterly average documented since 2014. However, Q3 historically shows more modest performance, with average gains of just 5.47% observed since 2013. This pattern suggests tempered expectations for significant near-term appreciation despite current price strength.
The Altcoin Season Index further underscores Bitcoin’s market primacy, registering a notably low score of 20 out of 100, indicating limited capital rotation toward alternative cryptocurrencies. Counterbalancing this strength, CryptoQuant’s Bitcoin Bull-Bear Score retreated to a neutral 50, reflecting market uncertainty about sustained upward momentum in the current quarter.