Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Bitcoin’s Dominance Expected to Outshine Altcoins Through 2024, Says Analyst

Bitcoin’s Dominance Expected to Outshine Altcoins Through 2024, Says Analyst

Cryptodnes2024/11/15 00:00
By: Cryptodnes
BTC-0.04%ETH+0.58%

Crypto analyst Benjamin Cowen predicts that Bitcoin (BTC) is poised to outperform altcoins for the remainder of 2024.

With Bitcoin’s market dominance hovering around 60%, Cowen suggests that altcoins could continue to struggle against the leading cryptocurrency.

He pointed out that the TOTAL3 chart, which tracks the market cap of all cryptocurrencies excluding Bitcoin, Ethereum , and stablecoins, appears to be on the verge of declining, a pattern reminiscent of what occurred in 2020.

Bitcoin’s Dominance Expected to Outshine Altcoins Through 2024, Says Analyst image 0

Cowen further explained that historically, Bitcoin’s dominance tends to increase in the final quarter of halving years, and with BTC’s current performance surpassing many top altcoins, this trend may persist into the new year.

READ MORE:
Can U.S. Spot Bitcoin ETFs Keep Momentum After Hitting $500 Billion in Trading Volume?

He also mentioned that, although dominance may eventually decrease in 2025, it is reasonable to expect Bitcoin to maintain strong dominance through the end of 2024, possibly until January.

In addition, Cowen highlighted an emerging correlation between Bitcoin’s price movements and the US dollar index (DXY), something that contradicts the typical narrative of an inverse relationship.

He recalled a similar occurrence in Q4 2016, where both Bitcoin and the DXY rose in tandem, suggesting that such a correlation is not unusual, despite prevailing assumptions in the market.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

New spot margin trading pair — YB/USDT!
Bitget Announcement2025/10/16 08:00
YBUSDT now launched for futures trading and trading bots
Bitget Announcement2025/10/15 11:07

Trending news

More
1
New spot margin trading pair — YB/USDT!
2
Exclusive Mystery Boxes for BGB holders group–Win random token incentives!

Crypto prices

More
Bitcoin
Bitcoin
BTC
$110,951.61
-0.41%
Ethereum
Ethereum
ETH
$4,024.82
-0.75%
Tether USDt
Tether USDt
USDT
$1
-0.07%
BNB
BNB
BNB
$1,183.2
+0.70%
XRP
XRP
XRP
$2.44
-1.50%
Solana
Solana
SOL
$195.99
-2.23%
USDC
USDC
USDC
$0.9998
-0.00%
TRON
TRON
TRX
$0.3215
+1.43%
Dogecoin
Dogecoin
DOGE
$0.1984
-0.92%
Cardano
Cardano
ADA
$0.6737
-1.69%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter