Bitcoin Dominance Rises: Why Altcoin Buying May Need A Break
In a recent trend evident on crypto charts, Bitcoin dominance is once again on the rise, prompting some traders and investors to rethink their strategies concerning altcoins. An in-depth analysis of the data, coupled with insights from prominent crypto analysts, unveils several compelling reasons to exercise caution when considering an altcoin purchase at this moment. Historical Precedence Bitcoin’s market dominance – its market cap relative to the entire cryptocurrency market – has historically been a leading indicator of market sentiment. If Bitcoin dominance is increasing, it....
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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....
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.....
BTC.D rises in price as altcoins suffer a bloody day in crypto. BTC.D attempts to break out above 8, and 20-day Exponential Moving Averages as altcoins struggle to hold their key support. The price of BTC.D eyes a rally to 48% as this could mean more pain for altcoins. Many altcoins have experienced a relief bounce across the market as Bitcoin Dominance (BTC.D) remains below the 40% marked area allowing altcoins to rally when the market recovers. With Bitcoin Dominance (BTC.D) rising from the ashes, we could see the price of altcoins suffering more pain than expected if the price....
Many crypto investors are anticipating a full-blown altcoin season where many altcoins outperform Bitcoin altogether. This sentiment is revealed through different outlooks, especially now that the Bitcoin dominance has risen to a major rejection zone. However, Bitcoin dominance is telling a different story. Notably, Bitcoin dominance has broken back above the 63.96% region and is […]
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....