Cryptocurrency strategists predict a historic high for bitcoin in the near future

Crypto market experts note that bitcoin BTC $77,703.22 Mezo Wrapped BTC -0.48% Market capitalization $76.51 million VOL. 24 hours $0.53 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.