Bitcoin dominance on the rise, defying predictions of altcoin season rotation

Bitcoin's dominance is at 58.8%, representing the highest proportion of the flagship token's market capitalization within the entire crypto market since early 2021, according to The Block. This figure is notably higher compared to December's low of 51%. Common trading wisdom suggests that Bitcoin's dominance should wane as the market cycle matures, typically signaling a shift in capital to riskier, potentially more lucrative altcoins. Historically, these altcoin seasons follow Bitcoin rallies when traders move profits from Bitcoin to altcoins. Despite favorable conditions like Bitcoin's stability, increased liquidity and institutional adoption, this expected capital rotation has not occurred as anticipated.