Bitcoin dominance is once again the center of attention.

Bitcoin (BTC) dominance is once again the center of attention. In early May 2025, BTC.D surged to 64.98%, its highest point in nearly three years, sparking discussions about the timing and shape of the next altcoin season.

Many analysts believe that the 65% threshold is a technical resistance. If rejected, it could set the stage for the long-awaited altcoin rally. While bulls anticipate a shift towards altcoins, skeptics believe the crypto market isn’t quite ready yet.

As the cryptocurrency market continues to evolve, the narrative surrounding Bitcoin (BTC) dominance and its implications for altcoins has become a subject of ongoing interest among traders and analysts.

As the cryptocurrency market continues to evolve, the narrative surrounding Bitcoin (BTC) dominance and its implications for altcoins has become a subject of ongoing interest among traders and analysts.

At the beginning of May, Bitcoin’s market share dominance reached 64.98%, the highest point since August 2022. This level, according to many analysts, is crucial as it usually leads to reversals and a shift in capital.

At 65%, Bitcoin is deemed overbought relative to altcoins, making it an ideal time for a rotation into other assets. Analyst Darky shares this view, predicting a sharp pullback in BTC dominance and urging traders to “fill your bags with altcoins.”

According to him, a true altcoin season could unfold if Bitcoin dominance begins to decline from this key level, potentially driving BTC.D down to the long-standing support zone around 39%.

Another implication is clear. A BTC.D reversal at this level could be the green light for traders searching for the best crypto to buy. However, not everyone is ready to call it just yet.

According to the Milk Road newsletter, a genuine altseason is still some distance away. “Only 17% of altcoins have outperformed BTC over the last 90 days,” they note, suggesting that a steeper increase in Bitcoin’s market share, perhaps to the 70% mark, may be needed before any substantial altcoin rotation takes place.

Recent market data supports that perspective. Bitcoin dominance rose steadily from 64.4% to 65% in the first week of May. However, the total crypto market cap decreased from $3 trillion to $2.87 trillion. This indicates that capital is exiting altcoins faster than it’s pulling away from Bitcoin.

Indeed, many altcoins are not growing as fast as the BTC price. Despite this, many traders are positioning themselves for the next altcoin cycle. Several tokens have shown early signs of strength for those looking for crypto to buy now.

Only 17% of altcoins have outperformed BTC over the last 90 days. That’s not rotation. That’s BTC dominance holding the wheel.

Until this number pushes past 70%, altseason isn’t on the table. Not yet. pic.twitter.com/jqYP1tbAku

— Milk Road (@MilkRoad) May 9, 2024.