PANews reported on March 12 that according to Matrixport analysis, Bitcoin dominance has risen to a new cycle high, exceeding the previous peak, indicating that the short-term rise of altcoins has ended. From the election of Trump in November 2024 to the release of strong US employment data in early December, the altcoin market briefly rebounded, but then the market focus shifted to the Federal Reserve's more hawkish monetary policy stance.

In this context, some traders shifted funds from altcoins to Bitcoin. Although the price of Bitcoin itself has fallen, it still performs significantly better than the overall altcoin market. The market currently hopes that the recovery of liquidity will drive Bitcoin prices further up, but given that the Federal Reserve may maintain a hawkish stance, the next round of gains may require more patience.