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Raoul Pal, founder of Real Vision and a prominent trade name, stated on Wednesday that Bitcoin’s dominance may have held this cycle.
In an X -post, Pal said that the signals from Demark indicators point to the potential that a change is up to the top of the market after a few months of Bitcoin. PAL noted that daily, weekly and monthly cards are all flashing top signals On Bitcoin Dominance.
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Bitcoin -Dominance is now at almost 65%, a figure that has steadily increased since December 2024. Despite this growth, it still has to reach the 2021 high of 74%, or the High 2017 earlier. According to a weakening trend in the percentage of the cryptomarkt, this indicates dominated by Bitcoin over time.
Demark Tops Flash Warning Signs
Spozen on technical analysis tools called Demark indicators, developed by market veteran Tom Demark. They are used to determine when a trend momentum could lose. Although Pal did not specifically indicate what the exact signals he looked forward to, one of the functions of the TD sequence to find such turning points as these.
I think BTC Dominance went today. There are daily, weekly and monthly Demark tops in place and the top is far below the Top 2021 and that was below the top of 2017.
If that takes place, this is the characteristic of the next phase of the banana zone. Let’s look …
– Raoul Pal (@raoulgmi) May 8, 2025
Bitcoin is currently more than 6% higher since the beginning of 2025 and the $ 103k level has just recovered. The coin finds its way to the $ 105,000 threshold. But while Bitcoin goes higher, most other cryptocurrencies have not been able to keep pace.
Altcoins have been left behind
Statistics indicate that the total2 index, which records the value of the cryptomarket with exclusive Bitcoin, has fallen by almost 20% this year. It fell from $ 1.34 trillion to $ 1.07 trillion. This difference between Bitcoin and the rest of the market has contributed to increasing the dominance of Bitcoin. If the analysis of PAL is correct, this difference starts to beg quickly.
He thinks that as soon as Bitcoin Dominance reaches a peak, money can start to come in altcoins. Traders usually move their focus from Bitcoin to smaller coins as soon as they feel that the top coin has risen. That is what happened before, and Pal believes that the same thing can happen.
The theory of the banana zone
PAL also mentioned what he calls as the “Banana zone.” It is his terminology for a period in which prices speed up in a sharp, curved process – a bit like a banana. He divides this into three phases. Phase one, he says, started in November 2024, when the prices of Crypto started to break out.
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Now he believes that we are entering phase two, which he calls the “banana singularity.” That is the part where Altcoins start to rise faster than Bitcoin, as more investors begin to hunt for greater profit in more risky coins. This is usually when people see large movements over smaller tokens.
Altcoin season may be on the road
The message from PAL is crystal clear: the time of Bitcoin at the top can slow down. If the technical indicators are correct, Altcoins can be central soon. It would not be the first time. In earlier bull runs, Capital ran from Bitcoin and in altcoins while the dominance was rid of the upper mint.
Featured image of Unsplash, graph of TradingView