Chen Forecasts High Bitcoin Dominance, Low Utility Tokens

Gracy Chen, CEO of Bitget, has warned that this cryptocurrency cycle will not follow the traditional path of an altseason. Speaking to Forbes, she stated that Bitcoin's dominance will remain high and low-utility tokens will continue to decline as winners separate from losers.

The tokenized real-world assets market is expected to reach nearly 10% of global financial assets by 2030, according to Chen's projections. This aligns with Bitcoin's dominance cycles and altseason history over the past year. As of now, BTC is trading at $59,819, within its Bollinger band.

Chen's analysis suggests that the current market structure is bearish, with BTC sitting below both its EMA50 and EMA200 levels. The MACD death cross confirms this trend, while the RSI remains neutral. Any potential bounce towards the 50-EMA faces an immediate rejection risk before a deeper test of the lower band.