Matrixport: Altcoin rally hopes fade as Bitcoin dominance grows

Matrixport stated on X platform that in the past year, almost every month, the crypto Twitter community has been calling for an altcoin rebound, but without success. However, altcoin rebounds are not driven by chart patterns or some assumed lagging actions behind Bitcoin. Instead, they rely on the decline of Bitcoin's dominance and the increase in the total cryptocurrency market value.

As Bitcoin's dominance rises, Ethereum performs poorly, and few other cryptocurrencies emerge as credible competitors in this cycle. Without a strong alternative narrative or leadership, other cryptocurrencies may continue to lag behind. Our model for the performance of other cryptocurrencies currently supports this view, remaining optimistic about Bitcoin.