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Crypto market experts note that bitcoin BTC $78,234.82 Bitcoin 0.68% Market capitalization $1.57 trillion VOL. 24 hours $0.54 billion is probably approaching its historical maximum. Meanwhile, the top altcoins are not showing similar growth. Since September, the bitcoin price has risen from around $ 53,000, attracting significant investment, especially from institutional investors who are actively investing in bitcoin ETFs. Capital inflows have increased bitcoin’s market dominance to 59%, leaving fewer opportunities for altcoins.
According to QCP’s analysis, demand for bitcoin from institutions is growing, and its market share could exceed 60% if the price reaches a new high. However, for the altcoins to enter the season, at least 38 of them must outperform bitcoin within 90 days, which is currently unlikely due to a lack of investment support.
Nevertheless, analysts suggest that if bitcoin approaches $ 70,000, profit-taking may occur, which will temporarily lower its rate and create a chance for altcoins to gain momentum. But for now, the market continues to focus on bitcoin, and without a significant correction of its dominance, no broad growth in altcoins is expected.