- Bitcoin dominance has tested the channel median and could be on the rise.
- The chart shows a possible upward movement if the current trend holds.
- A sustained breakout could drive Bitcoin dominance above the 60% mark.
Bitcoin’s market dominance is currently exhibiting strength as it holds the median of its established channel. According to a recent chart published by the analyst CoinChartist on February 17, 2025, Bitcoin’s dominance is maintaining its position above 60%, with a current market dominance of 60.75%. This marks an interesting technical level, as Bitcoin dominance has rebounded from key support levels since early 2017.
The chart shows a clear upward trajectory that could suggest further gains if Bitcoin’s dominance remains above its channel’s median. The analyst’s chart draws attention to the fact that Bitcoin’s recent climb has positioned it within a critical zone where further resistance could be tested.
Key Chart Analysis and Key Indicators
The chart shows that Bitcoin’s dominance has been consolidating within a well-defined channel since 2017. At the beginning of the chart, a steady decline in dominance can be seen, which continued until 2020, when the dominance bottomed out near 34%. Following this point, the chart shows a clear upward trajectory, with Bitcoin dominance rising significantly.
The dominant cryptocurrency is now testing the middle of this long-established channel, an important technical level where price action has historically encountered resistance. The current resistance at the median line has been marked with an upward arrow, and the reaction in this area is crucial for the continued bullish outlook.
Looking Forward: What Could Happen Next?
If Bitcoin’s market dominance manages to break through and sustain its position above this channel median, the chart suggests that it could head higher. The last few candles in the chart show bullish pressure as Bitcoin’s market dominance continues to hover above 60%. However, the median line still acts as a strong resistance level, and unless it is decisively broken, Bitcoin’s market dominance could see a pullback. If the resistance holds firm, Bitcoin’s dominance could be trapped in a range-bound movement until further market forces dictate its next move.
CoinChartist’s chart has sparked discussions within the cryptocurrency community about whether Bitcoin can maintain this bullish momentum or if altcoins will once again begin to catch up with Bitcoin’s dominance. However, with the current dominance at 60.75% and a historical tendency for dominance to rise in extended bull markets, Bitcoin may very well continue to lead the charge.
Final Thoughts on Bitcoin’s Market Position
With Bitcoin now comfortably sitting at the median of its dominance channel, all eyes will be on this key technical area to determine whether it can push through resistance and continue its bullish ascent. Analysts, including CoinChartist, remain optimistic, with hopes that Bitcoin’s dominance could rise even further in the coming months, especially if the broader market remains in an uptrend.
