Bitcoin Dominance Peaks Since 2021: Is It the End of a New Altcoin Season?
While Bitcoin continues to assert its leadership, altcoins are in a difficult position. The Bitcoin dominance index – which measures the share of BTC’s market capitalization in the entire cryptocurrency market – surpassed 64% in April 2025, marking its highest level since early 2021. Some experts warn that the current cycle may never bring an “altcoin season” like previous years.
Bitcoin Dominates, Altcoins Falter
The Bitcoin dominance index is one of the key tools for assessing market sentiment. When this number increases, it often reflects strong investor confidence in Bitcoin as a safe haven, especially during periods of market volatility or price declines. Conversely, when the index falls, it is often a sign that money is pouring into altcoins – alternative cryptocurrencies – amid market optimism and expectations of higher returns.
From a low of around 40% in late 2022, Bitcoin dominance has steadily increased, reflecting new money flowing into BTC while altcoins have failed to break out. This has led many investors to ask: is altseason dead?
Investors are changing strategies
According to Nassar Achkar – Chief Strategy Officer at CoinW exchange – the current market is witnessing a completely different model. "Investors are no longer looking to buy low and sell high with altcoins. They buy Bitcoin whenever they can and hold it for the long term, with no intention of selling," he said in an interview with Crypto.news.
Scott Melker, host of Wolf of All Streets, likened the movement between Bitcoin and altcoins to a “washing machine,” where value is constantly redistributed. But today, money no longer cycles between BTC and altcoins as strongly as it once did. Instead, Bitcoin has become the primary safe haven, pumped with new fiat money from both retail investors and large institutions — including governments and corporations.
What’s next for altcoins?
While there’s no denying that altcoins are in a tough spot, many market observers believe there’s still hope. Benjamin Cowen, CEO of Cryptoverse, pointed out that if stablecoins are excluded from the analysis, Bitcoin’s true dominance rate would be 69%. But he also noted that many altcoin/BTC pairs still have room to fall further before they can recover.
Some investors still believe that new technology trends can spark a new wave of altcoin growth – as DeFi or NFTs have done. Nothing is permanent in the world of crypto. And when a disruptive technology or application emerges, the landscape can change.
Conclusion: Bitcoin – The Undisputed King?
While altcoins still have a future, there’s no denying that this season belongs to Bitcoin. With investors increasingly viewing BTC as digital gold and a hedge against wealth, the original coin is increasingly asserting its core role in the crypto space.
Could there be a new altcoin season? Perhaps. But for that to happen, it will need a truly powerful catalyst – not just a temporary euphoria, but a global technological breakthrough.
