Bitcoin And Altcoin Seasion: BTC Dominance Shows When To Expect A Market Expl...
The Bitcoin Dominance (BTC.D), which measures BTC’s share of the total crypto market capitalization, is approaching a critical point where the market could be preparing for a dramatic rotation into the long-anticipated altcoin season. A recent technical analysis, backed by historical patterns, indicates that BTC’s current lead could soon fade, resulting in a potential market […]
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The Bitcoin dominance in the cryptocurrency market is inching dangerously close to a long-term resistance level that has triggered major reversals in the past. This resistance level is highlighted on the weekly BTC.D candlestick timeframe chart. Each time the dominance taps this descending trendline, it struggles to break through and eventually tumbles. Notably, Bitcoin’s dominance is now back around this resistance, and a technical outlook posted on the TradingView platform points to a crash to 40% within the next months. Bitcoin Dominance Could Crash To 40%: Good For The Altcoin....
BTC dominance has always had an inverse effect on the price movements for altcoins. Historically, BTC dominance determines the direction the value of altcoins swings in. Bitcoin has so far maintained majority dominance on the market. But as more time passes, that dominance goes down as altcoins see more demand. BTC dominance simply shows how much demand there is for bitcoin compared to altcoins. The more BTC dominance rises, the lower the demand for altcoins. This means that for altcoins to rally up further, bitcoin demand has to go down. Related Reading | Ethereum Breaks 200,000....
For months, Bitcoin stole the show when it came to crypto, sucking the capital out of the altcoin market. Shortly after the top cryptocurrency started its pullback, profits began to flow back into altcoins that have since been soaring over the last month. BTC dominance shows how down to the wire the fight between Bitcoin […]
Crypto analyst Daan Crypto has provided an analysis of the rising Bitcoin dominance, explaining why this will likely continue to surge. Based on his analysis, the altcoin season is unlikely to come anytime soon, with many alts suffering significant selling pressure while BTC accumulation increases. Bitcoin Dominance Surge Dashes Hopes Of Altcoin Season In an X post, Daan Crypto stated that the Bitcoin Dominance shows no signs of stopping following the latest surge above 64%. He indicated that the dominance will only continue to rise as more treasury companies try to accumulate Bitcoin.....
Altcoin season is a phrase that is quite popular throughout the crypto market. The phrase refers to the run-up in the prices of altcoins after the price of bitcoin slows down. The altcoins usually see an uptick in their individual and collective market dominance, taking even more market share from the top cryptocurrency, bitcoin. As the coins become more valuable, their prices soar following the increased market share. An altcoin season usually sees most of the altcoins in the market rallying at the same time. With Ethereum’s price mostly leading the charge once the prices start surging.....