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Bitcoin’s market dominance is exhibiting signs of decline, which may indicate that altcoin season is approaching sooner than many traders anticipate, as per crypto analyst Matthew Hyland.
Key Takeaways:
- Bitcoin’s dominance has weakened, decreasing over 5% since May, potentially setting the stage for an impending altcoin season.
- Analyst Matthew Hyland suggests that Bitcoin’s recent fluctuations may be a result of manipulation by Wall Street.
- Currently, altcoin season remains out of reach, with CoinMarketCap’s index still firmly in “Bitcoin Season” territory.
“The reason to have faith in the altcoin price movements is that the BTC Dominance chart appears bearish and has shown bearish tendencies for several weeks,” Hyland stated in a post on X on Friday.
“The downtrend is likely to persist; thus, this relief rally has been a temporary bounce within a downtrend,” he added.
Analyst Suggests Wall Street May Influence Recent Bitcoin Volatility
Hyland also indicated that Bitcoin’s recent volatility might not be entirely natural. In a video shared on Saturday, he contended that Wall Street institutions could be driving the market fluctuations.
“Throughout the past month, I’ve maintained the perspective that much of this was essentially manipulation, primarily for Wall Street to position themselves,” he remarked.
Bitcoin’s dominance, which represents the portion of total cryptocurrency market capitalization attributed to BTC, has decreased by 5.13% since May and currently stands at 59.90%, according to TradingView data.
The leading cryptocurrency recently fell below $100,000 for the first time in four months before recovering to $102,090 at the time of reporting, as per CoinMarketCap.
Despite the slight rebound, Bitcoin has declined by 15.6% over the last 30 days, resulting in subdued sentiment across the wider market.
The reason why you should have confidence in the Alt coin price action is because the #BTC Dominance chart looks bearish and has looked bearish for many weeks
The downtrend is favorable to continue therefore this relief rally has been a dead cat bounce in a downtrend: https://t.co/QgduZZ3Qxq pic.twitter.com/5RlgY3CRG2— Matthew Hyland (@MatthewHyland_) November 8, 2025
CoinMarketCap’s Altcoin Season Index is currently at 28 out of 100, firmly within “Bitcoin Season” territory, indicating that capital remains concentrated around BTC.
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The last instance of the index transitioning to “Altcoin Season” occurred on Oct. 8, shortly after Bitcoin reached an all-time high of $125,100.
However, the optimism quickly diminished following the crash on Oct. 10, which wiped out $19 billion in leveraged positions and prompted a shift toward safer assets.
Some analysts believe that the forthcoming altcoin season will differ significantly from the euphoric surges seen in 2017 and 2021.
For the moment, traders are closely monitoring whether Bitcoin’s dominance continues to decline, a trend that could pave the way for a long-awaited, yet more selective, altcoin rally.
JPMorgan Forecasts Bitcoin Could Reach $170K Within a Year
JPMorgan analysts project that Bitcoin could rise to approximately $170,000 within six to twelve months, citing the conclusion of the perpetual futures deleveraging phase and enhanced volatility dynamics in comparison to gold.
The bank’s strategists, led by Nikolaos Panigirtzoglou, observed that Bitcoin markets have largely stabilized following the October 10 liquidation event, the largest in crypto history, along with a smaller wave triggered by the $128 million Balancer exploit.
In their note on Wednesday, analysts indicated that open interest in Bitcoin perpetual futures has returned to historical averages, signaling the end of excessive leverage.
“The indication from the recent stabilization is that deleveraging in perpetual futures is likely behind us,” the team stated, adding that ETF redemptions remain modest compared to previous inflows.
They identified perpetual futures as the primary indicator of crypto market health rather than traditional futures or ETF activity.
JPMorgan’s optimistic outlook is also based on Bitcoin’s improving volatility ratio against gold, which has dropped below 2.0.
The bank calculated that to align with private-sector gold investments, valued at approximately $6.2 trillion, Bitcoin’s market cap would need to increase by roughly 67%, suggesting a fair value near $170,000.
The post Analyst Says Bitcoin Dominance Breakdown Could Signal Incoming Altcoin Season appeared first on Cryptonews.
