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Bitcoin continued dominance has remained a defining feature of the current market cycle, with the leading crypto asset receiving most of the inflows into the market. At the time of writing, Bitcoin’s dominance over the entire market is at 60.3% after a 4% increase in the past 24 hours. Notably, crypto analyst Rekt Capital pointed to the 71% dominance level as an important threshold for crypto investors still awaiting an altcoin season. Reaching 71% Is Critical For An Altcoin Season The Bitcoin dominance chart, which tracks Bitcoin’s market capitalization in relation to the entire crypto market, has consistently risen throughout this cycle, even during periods of price corrections. Bitcoin’s dominance has been fueled by institutional demand after the introduction of Spot Bitcoin ETFs and market dynamics favoring BTC as a potential reserve for countries.  Related Reading: Altcoin Season Paused Forever? What The Rising Bitcoin Dominance Says Will Happen A direct consequence of this prolonged Bitcoin dominance has been the sluggish performance of the altcoin market. Although some altcoins like Solana and XRP have managed to outperform Bitcoin for brief periods, the capital has consistently rotated back into Bitcoin, preventing a sustained altcoin market breakout. However, some analysts believe a significant shift could be very close, with Bitcoin dominance now sitting at a multi-year high. One such analyst is an analyst known as Rekt Capital on social media platform X. His analysis reveals a historical pattern where altcoin seasons emerge whenever Bitcoin dominance reaches a key threshold and subsequently faces rejection. According to a Bitcoin dominance chart that accompanied his analysis, Bitcoin’s dominance has been rejected around the 71% level three successive times in the past. Interestingly, each rejection has been marked by Bitcoin’s dominance falling over multiple monthly candles, as altcoins outperformed Bitcoin throughout those months.  The most recent occurrence of this pattern was during the 2021 bull market. At the time, Bitcoin dominance briefly spiked above 72% before reversing course. Once rejected, it entered a five-month downtrend, ultimately stabilizing around the 40% level as altcoins took control of the market. Will 71% Trigger A New Altcoin Season? Although Bitcoin’s dominance is not at 71% yet, it is still steadily inching upward towards this level. Particularly, Bitcoin’s dominance is at 60.3%, and there are no signs of slowing down. This means that investors banking on a repeat of rejection around 71% might have to wait longer for the dominance to even reach this level. Related Reading: Bitcoin Forms First Daily Death Cross On Dominance Chart In 4 Years, What To Expect Next If the 71% dominance level eventually becomes a local top again, historical patterns suggest altcoins could experience rapid gains. However, unlike in previous cycles, Ethereum may not take the lead in an altcoin season this time around. The leading altcoin has struggled to gain momentum this cycle as recent market dynamics have diminished its dominance in relation to other altcoins like XRP, Solana, and Dogecoin, which are witnessing more interest among crypto traders. Featured image from LinkedIn, chart from Tradingview.com