Bitcoin’s Kingly Reign—Should Investors Brace for a Regal Shift? 👑💸
- By various measurements, Bitcoin has been behaving like the star of the show, outshining its lesser altcoin siblings.
- Signals for a possible comeback of the altcoins can be spied upon from Bitcoin Dominance and the ETH/BTC chart — or as I call it, the financial gossip column.
At the moment, Bitcoin [BTC] is sashaying around at a hefty $104.9k. The December and January high points of $106.2k (that’s the kind of number that makes your hat fly off) have once again proved to be a bit of a stubborn wall, like a bull in a china shop.
So, though Bitcoin’s daily chart boasts a bullish swagger, there’s a tiny whisper that it might get a tad shy and pull back to the $102k support — a sort of financial game of “gentlemen, I say” before the next move. Meanwhile, as Bitcoin has been busy trying to set new records, the poor old altcoins haven’t had much of a day in the sun.
The Altcoin Season Index, that ever-reliable gossip in the crypto parlour, is at the jolly low of 16 — indicating we’re knee-deep in Bitcoin’s royal court, not the altcoin garden party.
Flashback to early December 2024, when the index flirted above 75 for a brief spell — but like all good things, it didn’t last long enough to turn into a proper party.
Bitcoin Dominance—The Crown Jewel Since 2021
Bitcoin dominance measures just how much of the crypto kingdom BTC rules over the land. Currently, it’s sitting at a regal 64.18%. Since mid-2023, Bitcoin has been the crowned monarch of the scene, and it looks like it’s not stepping down any time soon.
Over the past month, BTC.D has managed to turn the 63.8% mark from a pesky obstacle into a loyal supporter — much like a well-trained retriever. This suggests that Bitcoin’s crown might just be staying put, with new targets set at 67% and 70%. Watch this space, or rather, watch the throne.
To get a proper feel for the market’s mood, keeping an eye on ETH versus BTC is like peering through the window at a grand ball. When Ethereum dances higher, the whole altcoin lot tends to follow — a veritable fireworks display of outperformance.
Back in the twilight days of April to June 2021, the last time we had an altcoin bash, ETH/BTC was looking lively. The biggest drop in BTC dominance during that period, from March to May 2021, was quite the comic opera. So mind you, ETH/BTC isn’t just a pretty chart but a vital clue for any would-be market Sherlock.
The early May bounce in ETH/BTC coincided with a nearly 20% surge in the altcoin market cap — a nice little rally, if I may say so. Though the chart’s still trending downward like a sad clown, crossing above 0.026 might just be the green light for altseason enthusiasts. Until then, the wise investor keeps his hard-earned cash firmly in Bitcoin’s safe pocket, just in case.
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2025-06-05 08:43