Bitcoin dominance rose to 60.66 percent, sharply weakening expectations of a rotation of funds into the altcoin market.

BeInCrypto, a blockchain media outlet, reported on April 24 that Bitcoin dominance broke above 60 percent last week, exiting an eight-month accumulation phase that ran from August 2025 to April 2026.

The move is interpreted as a signal that funds are flowing back into Bitcoin rather than altcoins. On the weekly chart, Bitcoin dominance closed at 60.66 percent. That is above the Fibonacci 0.236 level of 59.63 percent, prompting views that the path could reopen toward the cycle high of 66.06 percent recorded in June 2025.

The daily chart shows a similar trend. Bitcoin dominance clearly broke upward for the first time out of a 58 percent to 60 percent range that had lasted about eight months. It is now testing a resistance zone near 61 percent. The relative strength index entered overbought territory for the first time since October 2025, and MACD is also pointing to upward momentum.

Markets see that if Bitcoin dominance settles above 61 percent on a weekly or daily basis, pressure on altcoins could increase further. Another view is that if dominance rises to 66.06 percent, capital outflows from the altcoin market could expand.

Some also say the possibility of an altcoin season has not disappeared entirely. Market analyst Crypto Kaleo (크립토 칼레오) saw the long-term ETH/BTC chart as touching a downtrend line that has blocked every rebound since 2017. The current reading of 0.02980 is just above that trend line, and he suggested the possibility of a rise to above the 0.055 area.

But Crypto Kaleo also made clear the preconditions for an altcoin rebound. He said that in past bull markets, Bitcoin recovered first and set new highs before altcoins began a full-fledged rise. He said that with the aftereffects of DeFi still being worked through, it may be a place to accumulate "high-conviction" names, but that more patience is needed before a "real alt season."

The trend is also confirmed in other indicators. The Altcoin Season Index stands at 37, remaining in the "Bitcoin season" zone by its criteria. An altcoin season is generally defined as when the index is at least 75. The current reading is only about half that level and means altcoins have not outperformed Bitcoin over the past 90 days.

The index's long-term trend is also not favorable. Records since July 2022 show that altcoin seasons above 75 have been rare, and when they occurred, they often ended quickly. Most of the time, conditions were neutral or favored Bitcoin. With a breakout in Bitcoin dominance, downtrend-line resistance in ETH/BTC and weakness in the Altcoin Season Index appearing at the same time, an assessment has emerged that the likelihood of a broad altcoin season before the end of 2026 has declined.

Variables remain. If Bitcoin dominance is pushed back at the 61 percent resistance zone and falls again below 59.63 percent on a weekly basis, the possibility of an altcoin rotation market opening toward year-end could revive. Conversely, if Bitcoin continues to weaken without forming a new uptrend, altcoins could face pressure both in relative returns versus Bitcoin and in dollar-denominated prices.

The trend shows that Bitcoin strength is reshaping capital allocation across the broader market. With the dominance indicator, the ETH/BTC chart and the Altcoin Season Index pointing in the same direction, the conditions for an altcoin market rebound have also become clearer.