Opinion: Bitcoin's market dominance is declining, but it does not mean that the "altcoin season" is coming

Planet Daily News: Bitcoin's dominance in the cryptocurrency market has recently declined, and analysts point out that this does not mean the "Altcoin season" is imminent. Grayscale Research Director Zach Pandl stated that when the market focuses on macroeconomic instability and risks facing the US dollar, Bitcoin's dominance may rise; while when the market focuses on various blockchain technology applications and innovations in the crypto field, Bitcoin's dominance may decline. Zach Pandl added: "In the next 9 to 12 months, Bitcoin's dominance is more likely to stabilize around 60% to 70% of the overall market, rather than experiencing a significant drop. This judgment is not easy, as both Bitcoin and Altcoins have different positive factors that could play a role. From a macro perspective, we are bullish on Bitcoin; from the perspective of technological development and user adoption, we are also optimistic about Altcoins. My basic assumption is that Bitcoin's dominance will start to stabilize from now on." (Decrypt)