The cryptocurrency market has been buzzing with excitement as Bitcoin’s dominance in the market cap reaches new heights. According to Rekt Capital, a popular crypto analyst, Bitcoin’s dominance has historically reached 71% before the start of the much-awaited altseason.

For those unfamiliar with the term, altseason refers to a period in the cryptocurrency market where alternative coins or altcoins experience a surge in value and outperform Bitcoin. This phenomenon is often seen as a sign of a healthy and diverse market, as altcoins offer investors a wider range of options to invest in.

But why is Bitcoin’s dominance such an important factor in predicting altseason? Well, Bitcoin is often seen as the king of the cryptocurrency market, with a market cap that is significantly higher than any other coin. As a result, its performance and dominance can have a significant impact on the overall market sentiment.

Rekt Capital’s analysis shows that Bitcoin’s dominance has reached 71% before the start of altseason in the past. This means that altcoins have historically performed well when Bitcoin’s dominance is at its peak. However, it’s worth noting that this is not a guarantee and should not be taken as financial advice.

So, what does this mean for the current state of the market? As of writing, Bitcoin’s dominance is hovering around 60%, which means there is still room for growth before altseason kicks in. This could be an exciting time for altcoin investors, as they eagerly await the start of altseason and the potential gains it could bring.

In conclusion, Bitcoin’s dominance in the cryptocurrency market is a crucial factor to keep an eye on, especially for those interested in altcoins. As we wait for altseason to begin, it will be interesting to see how Bitcoin’s dominance evolves and how it will impact the performance of altcoins.