- Bitcoin’s dominance has steadily risen from 61% in November 2024 to near 65%, signaling strong market recovery and potential altcoin rallies.
- Bitcoin dominance nearing 65% resistance suggests altcoins may surge if the rising wedge pattern breaks, similar to November 2024.
- The current market trend shows Bitcoin dominance respecting key support and resistance levels, hinting at a possible shift toward altcoins.
Bitcoin’s market dominance has been fluctuating within an ascending channel from October 2024 to May 2025. As of May 5, 2025, Bitcoin’s dominance sits at 64.87%, down slightly from 64.95%. This range marks the upper boundary of a trend that has seen Bitcoin’s dominance steadily rise since December 2024. Notably, Bitcoin’s market share had dropped in late 2024, but a strong recovery emerged from December, signaling potential growth for the leading cryptocurrency.
Bitcoin’s Market Dominance and the Rising Trend
From late 2024, Bitcoin’s dominance began to recover, marking a shift in market sentiment. After a sharp decline in November 2024, where Bitcoin’s dominance fell to 61%, the cryptocurrency regained strength. The period from late December 2024 through May 2025 saw dominance increase steadily, with minimal pullbacks. This steady rise allowed Bitcoin to break past key resistance levels, ultimately reaching nearly 65% by April 2025.
Source: Captain Faibik
The movement is clearly visible where Bitcoin’s dominance continues to respect the ascending trendlines that formed in December. The lower boundary connects higher lows through February 2025, while the upper boundary follows higher highs from November 2024 through May 2025. These parallel lines indicate that Bitcoin is currently at the upper resistance zone, which could lead to a potential price correction.
Altcoins Could Gain as Bitcoin Dominance Peaks
As Bitcoin dominance nears the 65% resistance zone, some analysts suggest altcoins could see a surge. The potential breakdown of the current rising wedge pattern could trigger significant movements in altcoins, similar to the November 2024 rally. Any shift could trigger a breakout for altcoins.
Bitcoin’s dominance reached its peak at 64.95% in early May before a minor pullback occurred. While Bitcoin remains the dominant player in the market, altcoins may benefit if the trend continues to reverse. The analyst Falkid’s analysis on TradingView highlights a potential turning point for altcoins, with a growing interest in altcoins likely to follow Bitcoin’s minor retreat.
