Bitcoin dominance in the overall crypto market is currently around 64.3%, as altcoins suffer significant losses. Noted trader and analyst Rekt Capital suggests that the recent altseason has concluded, predicting that Bitcoin dominance must surpass 70% to trigger a new altseason. Rekt analyzed the Bitcoin dominance chart and identified a low around 55% in early December as a key point, indicating an end to the last altseason. He anticipates an increase in Bitcoin dominance by at least 16%, aligning with historical patterns, before a potential altcoin recovery occurs. Despite the pessimistic outlook from some traders regarding Bitcoin’s performance, Rekt believes that a serious altcoin rally could start once Bitcoin dominance peaks at 71%. Factors contributing to the poor performance of altcoins include the ongoing Bitcoin euphoria post-halving and expanding ETF investments. Ethereum, a major altcoin, is also in a long-term downtrend against Bitcoin, further solidifying Bitcoin's market dominance.

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