Grayscale Research Director: Bitcoin's Market Share May Stabilize Rather Than Decline Sharply

According to Decrypt, Grayscale's Head of Research, Zach Pandl, stated that Bitcoin's dominance might rise when the market focuses on macroeconomic instability and risks facing the dollar; however, when the market focuses on various applications of blockchain technology and innovations in the crypto space, Bitcoin's dominance might decline.

Bitcoin benefits from being viewed as a "non-sovereign asset" similar to gold, and it has also absorbed a significant portion of the capital inflow into the crypto market through products like the ETF approved last year.

In the next approximately 9 to 12 months, Bitcoin's market share is more likely to stabilize between 60% and 70% of the overall crypto market rather than experience a significant decline. This judgment is not easy, as both Bitcoin and altcoins have different favorable factors that could play a role.

From a macro perspective, we are bullish on Bitcoin; from the standpoint of technological development and user adoption, we are also optimistic about altcoins. My basic assumption is that Bitcoin's dominance will begin to stabilize from now on.