Bitcoin [BTC] has finally crossed the $80,000 resistance level last seen in early February 2026. At press time it was trading at $80,836.16 after a hike of over 20% in the past month.
At the same time, Bitcoin Dominance [BTC.D] also surged by 4.38% in the past month and was at 61.21%, as per Trading View data. Even when compared to the half-yearly or year-to-date surges, this represents the highest hike recorded.
Remarking on the same, Kaleo, co-founder of the NFT project LedgArt took to X and noted,
Bitcoin Dominance has slowly and steadily climbed since the market started to bounce at the end of March.
Will history repeat itself, or just rhyme?
The co-founder also made comparisons to 2020, citing similar trends in BTC.D. During that year, Bitcoin also went through its third halving phase.
Together, these factors had assisted the buyers back then in bringing the price of Bitcoin to its previous all-time high.
In May 2020, the BTC.D was trading at about 66%, while the price of Bitcoin was close to $8900. However, by the end of the year, the price had risen to $27,000.
If historical trends continue, it is possible that the price of Bitcoin will reach $100,000. Remarking on which, a well-known trader, Ali Martinez, noted,
$BTC continues to show structural strength. Following a bullish MACD crossover on the weekly chart on April 13, we have already seen a steady 15% price increase.
However, Martinez also noted that breaking the $83,000 resistance is also crucial for that to happen.
Is altcoin season upcoming or losing its ground?
Additionally, Kaleo also noted that back in 2020, altcoins too had outperformed. However, the altcoin index, which was at 38 at press time, indicated that the altcoin season is still in its early stages and that the Bitcoin season is still ongoing.
In fact, according to AMBCrypto, the Altcoin Season Index has actually fallen to a three-month low, suggesting that a broad altcoin cycle will not occur again.
Hence, to paint a perfect picture of the current market dynamics, Kaleo put it best when he noted,
Bitcoin continues to outperform until it approaches its previous ATHs… sometime after, we see a real alt season.
Final Summary
- Bitcoin dominance has surged over 4% in the past month; if momentum continues, Bitcoin might reach $100,000.
- Though 2020 also saw the rise of altcoins, current dynamics suggest that the altseason has fallen to a three-month low.
