As the crypto market continues its consolidation journey, an avid analyst under the pseudonym cryptododo7 has highlighted some intriguing trends in Bitcoin’s dominance, which might have significant consequences.
Bitcoin Dominance on the Rise: An Altseason Ahead?
In a recent X post dated March 21, cryptododo7 delved deep into the Bitcoin Dominance chart, hinting at what could be an upcoming altseason. The technical breakdown suggests that Bitcoin Dominance might be gearing up for a lasting upward move after breaking out and successfully revisiting the 61.25% mark, indicative of a bullish pennant pattern.
Typically, a bullish pennant takes shape following a robust price escalation, as observed in early 2025 in the accompanying chart. This upward movement, often called the flagpole, transitions into a consolidation phase characterized by rising lows and dropping highs, creating a symmetrical triangle—the pennant.
The completion and retest of this formation have reinforced the notion of a significant surge, with cryptododo7 eyeing a potential target of 67.51%. However, the analyst warns that this uptick might not herald a sweeping market rally, as Bitcoin Dominance could rise even if Bitcoin and altcoins experience a price drop.
Interestingly, cryptododo7 also suggests that reaching this dominance peak at 67.51% might indicate the top of Bitcoin Dominance during the current bear market, paving the way for an altseason. Within the crypto market cycles, such a period is characterized by altcoins outperforming Bitcoin, confirmed by a decline in Bitcoin’s share of the market.
While some analysts have previously dismissed the possibility of an altseason, attributing this to the surge in altcoin numbers over the past four years, others remain hopeful. Analysts like cryptododo7 anticipate an altseason following Bitcoin Dominance’s climb to 67.51%, where altcoins might see significant capital inflows, potentially soaring to $627 billion.
MACD Curl Suggests a Shift: Positive Signs for Altseason?
In related news, the X platform MoreCryptoOnline reports that the Weekly MACD (Moving Average Convergence Divergence) for the total crypto market cap (excluding the top ten coins) is starting to turn upward, indicating a bullish tilt in the altcoin market.
For those unfamiliar, the MACD serves as a popular momentum indicator, offering insights into possible trend reversals. While this is a promising sign, it remains an early marker of an altseason.
Currently, the entire crypto market cap stands at $2.76 trillion, with Bitcoin accounting for $1.67 trillion of that figure. Meanwhile, the CoinMarketCap Altseason Index registers at 21, suggesting that an altcoin boom might not be just around the corner yet.
