Why Another Wave Up For Altcoins Is Probable According To BTC Dominance
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....
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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....
Ether price weakness in its Bitcoin pair is bad news for altcoins if ETH doesn't bounce soon. It's been all about Bitcoin (BTC) in recent months with altcoins suffering as a result and BTC dominance reaching a new local high of 67.5% over the past few days.However, a reversal typically occurs once altcoins start to show such major weakness and altcoin traders are in depression. The leading indicator for such a U-turn is Ether (ETH), which is now in a do or die position against its BTC pair. New higher high for ETH in first uptrend since bear marketETH/USD 1-week chart. Source:....
The DeFi boom and an explosion of ROI across altcoins helped bring bullish sentiment back to crypto, and it helped push Bitcoin above $10,000 and hold the key level for the longest stretch ever. But while altcoins had regained some lost ground against the most dominant cryptocurrency, BTC dominance has potentially reversed, and if closes […]
BTC dominance can directly affect altcoins by displaying the market’s trading volume in BTC vs. altcoins. Bitcoin (BTC) is both the first and the most prominent cryptocurrency in the world when it comes to market capitalization as well as trading volume. These factors are quite significant, considering that all cryptocurrencies trade against Bitcoin and Bitcoin’s dominance can actually serve as a valuable indicator when trading all different types of cryptocurrencies.This post will offer insight on how to trade cryptocurrency while utilizing the Bitcoin dominance indicator and how to read....
In this episode of NewsBTC’s daily technical analysis videos, we are analyzing Bitcoin dominance (BTC.D) and how the top cryptocurrency might perform in the near term against altcoins. Take a look at the video below: VIDEO: Bitcoin Dominance Versus Altcoins (BTC.D): October 20, 2022 In addition to the video highlights listed below the video, we also analyze BTC.D using the Ichimoku, Average Directional Index, LMACD, and other technical tools. Related Reading: Is The Final Wave In Ethereum Up Next? | ETHUSD Analysis October 19, 2022 Bitcoin Outperforms Altcoins During Sideways....