Altcoin Surge Is Imminent as Bitcoin Dominance Hits Its Peak, Analyst Suggests
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A well-known crypto analyst has turned optimistic on altcoins following a sharp market downturn over the weekend.
The trader, known as Kaleo, shared that Bitcoin’s dominance in the market may have peaked, signaling a potential shift in momentum toward altcoins.
The Bitcoin dominance (BTC.D) metric, which tracks BTC’s share of the total crypto market cap, is often used to gauge whether alternative cryptocurrencies are gaining strength.
According to Kaleo, Bitcoin’s recent dominance surge could be nearing its end, setting the stage for altcoins to regain traction.
He noted that BTC.D spiked during the latest market dip but suggested that altcoins may soon begin outperforming once again.
Currently, BTC.D stands at 61.33%, down from a weekend peak of 64.09%.
Kaleo also pointed to several altcoins, including memecoin PEPE, as potentially having reached their market lows, hinting that they could be primed for significant rebounds.
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