Bitcoin’s dominance in the crypto market is “now losing major support” and potentially has even “peaked” according to crypto analysts.
Bitcoin’s (BTC) market share has slightly faltered, leading crypto analysts to speculate that it may have reached its peak as traders shift their focus to altcoins.
“Bitcoin dominance has likely peaked,” founder of trading firm MNTrading Michaël van de Poppe claimed in a May 1 X post, while explaining that “the bottom for altcoins is likely in.”
“Altcoins start to wake up in their Bitcoin pairs, which means that the rotation is started,” he added.