News View Non-AMP

Forget Altcoin Season? Bitcoin Dominance Soars as Crypto Price Eyes $82K

Published by
Mustafa Mulla

With just 23 days until the Bitcoin Halving event, excitement is palpable across the cryptocurrency community. After a recent dip, Bitcoin is back on the rise, reclaiming the coveted $71,000 mark and sparking optimism among investors.

Notable cryptocurrency analyst Benjamin Cowen predicts that Bitcoin’s dominance is set to soar, potentially reaching 56% soon. Cowen attributes this expected rise to the upcoming halving event, suggesting that money currently invested in altcoins will gradually shift back to Bitcoin as the halving date approaches.

Understanding ALT/BTC Pairs: A Key Indicator

Cowen emphasizes the importance of keeping an eye on ALT/BTC pairs, indicating that Bitcoin may continue to be favored by investors until these pairs start to show signs of weakness. Currently sitting at 47%, a drop to 39% or lower could signal a potential peak for Bitcoin’s current uptrend.

Drawing parallels with past data, Cowen points out a recurring pattern seen in Bitcoin’s price movements during late March, with subsequent surges into April observed in both 2017 and 2021. This pattern suggests a potential trajectory for Bitcoin’s price in the coming weeks.

Also Read: Bitcoin Halving 25 Days Away: Will Price Hit $90,000 by Year-End?

Bitcoin vs. Ethereum

Looking ahead, Cowen predicts a shift in the power dynamic between Bitcoin and Ethereum (ETH), forecasting Bitcoin’s dominance over Ethereum in the near future. This projection could lead to a breakdown in the ETH/BTC ratio, potentially stabilizing around 0.05 by the end of the year before rebounding.

Market Outlook

As the week begins, Bitcoin maintains a positive momentum, trading around $70,404 and aiming to hold above the crucial $70,000 mark. Analysts believe that if Bitcoin manages to stay above $69,000, the BTC/USDT pair could surge towards the significant resistance level of $73,777. While breaking through this barrier might pose a challenge, a successful breach could propel the pair towards the $82,000 milestone.

Read More: Cryptocurrency Prices: How Bitcoin, Ethereum and XRP Prices Will Perform This Week

As the countdown to the halving event continues, everyone is watching Bitcoin’s movements closely for clues about the future direction of the industry.

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Recent Posts

Best Cryptocurrencies for June 2025: Ripple (XRP), Dogecoin (DOGE), Mutuum Finance (MUTM)

As market sentiment shifts and fresh momentum builds across digital assets, June 2025 presents a…

June 2, 2025

Live Coin Watch Alert: Bitcoin Solaris’s 21M Fixed Supply Creates Your Second Chance at Bitcoin’s Growth Path

When Bitcoin first emerged, its fixed 21 million supply was mocked. Today, that scarcity has…

June 2, 2025

Singapore Cracks Down on Unlicensed Crypto Firms with Strict New Rules

Singapore’s financial authority announces that unlicensed crypto firms operating overseas after June 30 will be…

June 2, 2025

Can U.S. Buy More Bitcoin? Here’s What David Sacks Revealed

On May 27, 2025, US President’s crypto czar, David Sacks, says there is a pathway…

June 2, 2025

After Monero Surge, Wall Street Ponke Gains Momentum, maybe Under $1?

Hackers used Monero to move stolen Bitcoin, pushing XMR up 24 percent to $269. But…

June 2, 2025

Pakistan Allocates 2,000MW for Bitcoin Mining and AI: A Digital Revolution

Pakistan has allocated 2,000 megawatts (MW) of electricity to fuel Bitcoin mining and artificial intelligence…

June 2, 2025