- Bitcoin consolidated while other cryptocurrencies crashed.
- There is an early rebound in Bitcoin dominance in the crypto market.
- Analysts predict Bitcoin’s price will reach $160,000 in 2025.
Recent observations suggest that Bitcoin may be reclaiming its grip on the crypto market in 2025. The flagship cryptocurrency has been consolidating sideways while many altcoins decline, a sign of relative strength amid broader market pressure.
Bitcoin’s dominance dropped significantly in July
Bitcoin took a back seat among other cryptocurrencies for nearly the whole of July, despite recording an impressive rally that saw it achieve a new all-time high.
Compared to altcoins, Bitcoin’s dominance dropped significantly, giving way to a capital rotation, with the altcoin market experiencing a massive inflow.
TradingView’s data show that most of the top altcoins took over the reins after Bitcoin’s impressive performance. Altcoins like Ethereum (ETH), Cardano (ADA), Ripple (XRP), and Solana (SOL) surged massively to dominate the crypto market’s latest rally. That implied a significant decline in Bitcoin’s dominance, which dropped from 66.03% in the last week of June to 60.43% as of July 21.
Bitcoin is now regaining its dominance ahead of a rally
A recent switch in the crypto market dynamics has triggered a rebound in the Bitcoin dominance metric, which surged to 62.51% last week, pulled back slightly before regaining its upward momentum. That zig-zag behavior has raised suspicion among crypto analysts about Bitcoin regaining control of the crypto market and surging to higher levels.
Related: Bitcoin (BTC) Price Prediction for July 31
In its latest survey, the UK-based fintech firm Finder found that the majority of crypto analysts expect Bitcoin’s price to reach $160,000 in 2025. Finder collected predictions from 24 crypto industry specialists whose predictions ranged between a $250,000 upper limit and a lower target of $70,000. The crypto experts cited mainstream factors, including regulation and adoption, as the fundamental elements that will determine Bitcoin’s growth in the coming months.
Related: Bitcoin Dominance at a “Make-or-Break” Level for Altcoin Market
In the meantime, Bitcoin is consolidating sideways, trading in a tight range and forming a symmetrical triangle on the daily chart. The cryptocurrency traded for $118,385 at the time of writing, and a potential breakout could trigger its next move, whether upward or downward.
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