TechFlow news, on March 12, Matrixport released a chart showing that Bitcoin's dominance has surged to a new high in this cycle, breaking past its previous peak to reach 61.2%, clearly indicating that the altcoin rally was extremely brief. Data shows that this altcoin market lasted only about one month, starting from Trump's election victory in November 2024 and abruptly ending in early December.
The report noted that stronger-than-expected U.S. employment data quickly shifted market focus, while the Fed's more hawkish stance increased downward pressure on risk assets. Although Bitcoin prices pulled back, it still significantly outperformed the broader market, with seasoned traders rotating back from altcoins into Bitcoin.
Analysis suggests that current market hopes rest on a rebound in liquidity driving Bitcoin higher, but given the Fed's ongoing hawkish tone, further upward momentum may require more patience.
