Bitcoin Dominance Holds Firm at 64% Despite Altcoin Hopes

Bitcoin’s dominance in the cryptocurrency market has been a topic of significant discussion among analysts. According to an analyst on X, Bitcoin’s grip on the market appears too strong for altcoins to break free any time soon. Bitcoin’s price ticked up to around $104,000 after climbing 0.4%. It had dipped briefly to $103,000 but buyers stepped in fast, driving it back toward the $105K mark. This movement occurred as the US Federal Reserve held interest rates steady, keeping traders on alert for any ripple effects.

The Bull Market Support Band, which sits between a 20-week simple moving average and a 21-week exponential moving average, has been a key indicator for Bitcoin Dominance. When dominance tests this area, it usually bounces higher instead of dropping further. This support band has been a springboard for Bitcoin Dominance all year, providing a clear trend line that shows Bitcoin is still the favorite for many investors.

Historically, Bitcoin Dominance has found support at key levels. It fell from about 56% in June 2024 to 54% in July of that year but found support. It also slipped from 58% down to 56% between late December 2024 and January 2025. Each time, the support band held firm. More recently, dominance dipped to 61% on May 14 after peaking at 65% on May 7, only to recover to 64% in a matter of days. This historical data suggests that the support band is a reliable indicator of Bitcoin’s strength in the market.

However, other experts see a different picture. Bitcoinsensus warns that dominance could “fall off a cliff” before any altcoin season kicks off. This view suggests a sudden drop, which might give altcoins their moment. An analyst points to a possible double-top pattern in dominance. If Bitcoin can’t clear resistance, money might flow into altcoins. But if dominance breaks higher, some believe Bitcoin could aim for a fresh record. This scenario highlights the uncertainty and potential volatility in the market.

It is important to note that the dominance metric only measures Bitcoin’s share of the total crypto market cap. It can slip if stablecoins flood in or if new tokens launch, even when altcoins aren’t rallying. And a rise in dominance can mean altcoins are selling off. Traders should also be aware that moving-average support lines can fail in choppy markets. A pattern that works for months can break when the climate changes. In the end, the Bull Market Support Band offers a clear trend line, but relying on one technical tool can miss bigger moves driven by real-world news or fresh blockchain data.

For now, though, Bitcoin’s dominance looks safe—unless something big shifts in the weeks ahead. The current market conditions suggest that Bitcoin remains the dominant force in the cryptocurrency landscape, with altcoins struggling to gain traction. This dominance is supported by historical data and technical indicators, but the market remains dynamic and subject to change.