Analyst Suggests Bitcoin’s Falling Dominance May Mark the Beginning of Altcoin Season

Jakarta, Pintu News – Bitcoin’s (BTC) market dominance is showing signs of weakening, which crypto analyst Matthew Hyland says could be an indication that altcoin season may be about to begin, sooner than many traders expect.

“The reason to believe in altcoin price movements is because the BTC dominance chart looks bearish and has been showing that pattern for several weeks,” Hyland said in a post on X on Friday.

“This downward trend is likely to continue; therefore, the recent price rally is just a temporary bounce in the downtrend,” he added.

Analysts Claim Wall Street Could Be Behind Bitcoin’s Recent Volatility

Matthew Hyland suggests that Bitcoin’s recent volatility may not be entirely organic. In a video shared on Saturday, he suggested that Wall Street institutions may be behind the market fluctuations.

Read also: Bitcoin Price Rises to $105,000 Today: Can BTC Reach $107,000?

“Over the past month, I’ve come to think that a lot of this movement is basically manipulation, an attempt by Wall Street to position themselves,” Hyland said.

Bitcoin’s dominance – the proportion of crypto market capitalization controlled by BTC – has fallen by 5.13% since May and now stands at 59.90%, according to data from TradingView.

The world’s largest crypto asset dipped below $100,000 for the first time in four months, before climbing back up to $102,090 at the time of writing, according to CoinMarketCap data.

Despite the mild recovery, Bitcoin price still recorded a 15.6% decline in the last 30 days, causing overall market sentiment to remain depressed.

CoinMarketCap’s Altcoin Season Index is currently at 28 out of 100, which puts it in the “Altcoin Season” category – indicating that capital flows are still centered on BTC. The last time the index switched to “Altcoin Season” was on October 8, shortly after Bitcoin set an all-time high of $125,100.

However, that optimism soon dissipated after the market crash on October 10 that wiped out $19 billion of leveraged positions and pushed investors towards safer assets.

Some analysts expect the next altcoin season to be very different from the speculative rallies that took place in 2017 and 2021.

For now, traders are still watching to see if Bitcoin’s dominance will continue to decline-a trend that could pave the way for a long-awaited altcoin rally, although it is expected to be more selective.

JPMorgan Predicts Bitcoin Price Could Reach $170,000 in One Year

JPMorgan analysts expect Bitcoin prices to rise to around $170,000 within six to twelve months, on the basis that the deleveraging phase of perpetual futures contracts is complete and volatility dynamics are improving relative to gold.

Also read: 5 Crypto Privacy Coins that Soared, Number 1 Up to 76%

The bank’s strategy team led by Nikolaos Panigirtzoglou notes that the Bitcoin market has shown stabilization following the major liquidation event on October 10-the largest incident in crypto history-as well as the subsequent small wave due to the $128 million Balancer exploit.

In a note released on Wednesday, analysts mentioned that open interest on Bitcoin perpetual futures contracts has returned to historical levels, signaling an end to the use of excess leverage.

“The message from the recent stabilization is that the deleveraging process on perpetual futures is likely complete,” they wrote, adding that ETF redemptions remain limited when compared to previous inflows.

They consider that perpetual futures contracts are a key indicator of the health of the crypto market, compared to conventional futures or ETF activity.

JPMorgan’s optimistic projection is also supported by Bitcoin’s volatility ratio to gold, which is now below 2.0.

The bank calculated that to match the level of private sector gold investment, which is worth about $6.2 trillion, Bitcoin’s market capitalization would have to rise by about 67%, which implies a fair value in the range of $170,000.

That’s the latest information about crypto. Follow us on Google News to get the latest crypto news about crypto projects and blockchain technology. Also, learn crypto from scratch with complete discussion through Pintu Academy and stay up-to-date with the latest crypto market such as bitcoin price today, xrp coin price today, dogecoin and other crypto asset prices through Pintu Market.

Enjoy an easy and secure crypto trading experience by downloading Pintu crypto app via Google Play Store or App Store now. Also, get a web trading experience with various advanced trading tools such as pro charting, various types of order types, and portfolio tracker only at Pintu Pro.

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Crypto News. Analyst Says Bitcoin Dominance Breakdown Could Signal Incoming Altcoin Season. Accessed on November 10, 2025