On May 17, according to Decrypt, Zach Pandl, head of Grayscale Research, stated, "When the market focuses on macroeconomic instability and risks facing the US dollar, Bitcoin's dominance may rise; while when the market focuses on various blockchain technology applications and innovations in the crypto field, Bitcoin's dominance may decline.
Bitcoin benefits from being viewed as a "non-sovereign asset" similar to gold, and has also absorbed most of the capital inflows in the crypto market through products like last year's ETF approval.
Within the next approximately 9 to 12 months, Bitcoin's market share is more likely to stabilize between 60% and 70% of the overall crypto market, rather than experiencing a significant decline. This assessment is not easy, as both Bitcoin and Altcoins have different potential favorable factors that could come into play.
From a macro perspective, we are bullish on Bitcoin; and from the perspective of technological development and user adoption, we are equally optimistic about Altcoins. My basic assumption is that Bitcoin's dominance will start to stabilize from now on."
