According to PANews on May 5th, the crypto financial service platform Matrixport analyzed on X platform that as Bitcoin's market dominance continues to strengthen, market expectations for a large-scale Altcoin rebound are gradually weakening.
Matrixport stated that predictions about an imminent "Altcoin season" frequently appearing on social media over the past year have largely failed to materialize. The institution believes that an overall Altcoin rebound is not determined by chart patterns or simply lagging behind Bitcoin's trend, but its key driving factors are the decline of Bitcoin's dominance and the rise of total cryptocurrency market capit>current Bitcoin's dominance continues rising,, as main competitor, performs relatively weakly, and there is a lack of other powerful alternative narratives in this cycle. Therefore, Matrixport judges that unless a new leader or new narrative emerges, Altcoinsss may continue to underperform Bitcoin. The institution's internal model currently supports supports this view and continues to be bullish on Bitcoin.
