Bitcoin Market Dominance Expected to Surge as Price Aims for New Highs
According to a report from crypto exchange CEX.IO, Bitcoin’s market dominance is anticipated to climb significantly during the third quarter, potentially fuelling another all-time high.
Lead analyst Illia Otychenko suggests Bitcoin’s dominance typically rises by around 2% year-on-year between July and September, translating to approximately $64 billion in value potentially shifting from altcoins to Bitcoin.
CEX.IO’s analysis puts the cryptocurrency analysis in perspective: a $64 billion reallocation is comparable to the combined market capitalization of the eighth, ninth, and tenth largest cryptocurrencies.
Other analysts concur. Markus Thielen of 10x Research notes a historical average of a 10% Bitcoin price increase during the same seven-July period over the last decade, projecting a price target near $116,000.
However, the analysis platform emphasizes this pattern is historical and does not guarantee future results. Geopolitical events, regulatory shifts, and unforeseen scandals remain significant price-influencing factors alongside cyclical trends.
Despite these caveats, sentiment among traders appears bullish. On the derivatives platform Deribit, a majority of call options require Bitcoin to surpass $112,000 by July 25 to remain valid. Furthermore, prediction markets like Polymarket indicate a high probability of Bitcoin reaching new yearly highs.
This week, analysts from FRNT Financial and Bitwise predict even higher targets, suggesting Bitcoin could reach levels above $125,000 by early July and potentially $136,000.
Crypto market movers
Ethereum saw flat trading during the period, trading at $2,444.
What we’re reading
- Maple Finance and EtherFi Launch Institutional Loans Backed by weETH ― Unchained
- You can now buy OpenAI stock onchain — Milk Road
- Senator Lummis Pushes Making Small Crypto Transactions Tax-Free in ‘Big Beautiful Bill’ ― Unchained
- Mantle to target Asia first with ‘onchain neobank’ UR ― DL News
*Disclaimer: Past performance does not guarantee future results. Cryptocurrency investments are volatile and speculative.*
