Bitcoin (CRYPTO: BTC) is hovering around $113,000 as analysts expect the crypto king to stage a dominance rebound in the upcoming month.
What Happened: Crypto analyst Benjamin Cowen expects Bitcoin dominance to surge in October, marking the start of a “final rotation” back into BTC ahead of the next altcoin rally.
He says the September low around 57.17% has already formed, following patterns seen in 2017 and 2020.
Current dominance near 58% sets the stage for a potential rise toward 63%–64%, or at minimum a return to the 20-week moving average.
Cowen outlined three scenarios, all supporting higher dominance:
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A dip below the 20-week SMA would strengthen BTC’s dominance.
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Consolidation near current support favors Bitcoin over altcoins.
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A rally toward all-time highs would similarly lift dominance, consistent with historical market cycles
Also Read: Bitcoin Underperforms Ethereum By 60% In Q3: Which Coin WIll Perform Better In Q4?
Why It Matters: October has historically been exceptional for Bitcoin dominance.
Cowen notes that monthly returns for dominance average +4.8%, highlighting October as the best month for gains.
He cautioned against expecting an immediate altcoin surge, pointing to low social interest and repeated altcoin trend rejections as structural hurdles.
He set clear invalidation levels: dominance falling below 55%–56% would challenge his outlook.
Overall, Cowen remains bullish for the next five weeks, positioning October as a BTC-led phase before altcoins resume their momentum later in the bull market cycle.
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This article Bitcoin At $113,000 Waiting For ‘Final Rotation’ As Analyst Forecasts One Last Dominance Push originally appeared on Benzinga.com
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