Bitcoin Dominance Rate Recovers From 1-Month Low; Is Altcoin Season Over?
Main Idea
Bitcoin's dominance rate has recovered from a one-month low, sparking debates on whether the altcoin season is over, while analysts predict Bitcoin could reach $160,000 in 2025.
Key Points
1. Bitcoin consolidated while other cryptocurrencies surged, leading to a decline in Bitcoin's dominance from 66.03% in late June to 60.43% in July.
2. Altcoins like Ethereum (ETH), Cardano (ADA), Ripple (XRP), and Solana (SOL) dominated the market rally, reducing Bitcoin's dominance temporarily.
3. Bitcoin's dominance metric rebounded to 62.51% last week, showing a zig-zag pattern in market behavior.
4. A Finder survey indicates most analysts predict Bitcoin's price will reach $160,000 in 2025, with estimates ranging from $70,000 to $250,000.
5. Bitcoin was trading at $118,385 at the time of writing, with potential for a breakout determining its next price movement.
Description
Bitcoin consolidated while other cryptocurrencies crashed. There is an early rebound in Bitcoin dominance in the crypto market. Analysts predict Bitcoin’s price will reach $160,000 in 2025. Recent observations suggest that Bitcoin may be reclaiming its grip on the crypto market in 2025. The flagship cryptocurrency has been consolidating sideways while many altcoins decline, a sign of relative strength amid broader market pressure. Bitcoin’s dominance dropped significantly in July Bitcoin took a ...
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