A closely followed crypto analyst says that once a key Bitcoin (BTC) metric reverses, altcoins may print explosive rallies.
Crypto trader Rekt Capital tells his 549,600 followers on the social media platform X that the Bitcoin dominance (BTC.D) metric may enter a downward phase after hitting a historic peak level, setting the stage for alts to outperform the flagship crypto asset.
“BTC dominance: if history repeats, the real altseason everybody is waiting for would begin once Bitcoin dominance rejects from 71% (red).”
BTC.D is a metric that calculates how much of the crypto market cap belongs to Bitcoin. A bearish BTC.D chart indicates that altcoins are printing gains faster than BTC.
The analyst also says BTC.D may not hit exactly 71% before reversing, but somewhere within that area.
“There really is no point in arguing about whether BTC.D will ultimately top out at 71% or at 69% or at 67%. The majority of the Bitcoin dominance macro uptrend has already taken place. And just like in every BTC.D cycle, it got close to 71%.”
Lastly, the analyst says that as BTC.D rises to its peak, altcoins won’t completely collapse in value, but may have significant corrections before the altseason begins.
