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Domination of bitcoins On the cryptocurrency market, it is dangerously close to the long -term resistance level, which in the past caused a stern reversal. This level of resistance is highlighted on the weekly BTC.d candlestick time chart.
Every time the domination takes this falling trend line, he tries to break and eventually falls over. In particular, the domination of Bitcoin returns around this resistance and Published by technical perspectives On the platform, the TradingView platform indicates a failure of up to 40% in the coming months.
The domination of Bitcoins can advance to 40%: good for the Altcoin market
The dynamics of Bitcoin’s domination was different in this cycle compared to the previous ones. This is because the dominance has increased significantly since the beginning of this cycle, Leaving little space for the Altcoin season As many still expected. According to data on the bitcoin market on the Bitcoin market, it is about 63.2%, according to Data from Coinmarketcap.
However, an captivating technical analysis shows that the domination of Bitcoins is now knocking on a resistance line, which exposes it to a failure below 40%, to 34.9%. If this pattern is once again true, the cryptocurrency market can approach the phase in which Ethereum, XRP and other Altcoins regain strength in what many hope will be the next season.
AND Drop the dominance of bitcoins It requires positively for altcoins, because it indicates that the Altcoin market exceeds bitcoins. This will be characterized by a widespread raise in altcoins, such as Ethereum, Solana and XRP. In this case, tokens such as Ethereum, XRP, Cardano, Banlink, BNB and Litecoin, so -called Dino coins, which have survived many market cycles, will most likely draw the early attention of retail traders.
However, unlike past runs, when there were only several hundred altcoins and most often noticed, the cryptographic market is now saturated with thousands of Altcoins. After huge market altcoins, rotation can go to more niche sectors. Sectors such as artificial intelligence (AI), resources in the real world (RWA) and DEFI can also attract attention, but even in these categories a robust filtering process has been used to choose altcoins that will work better.
Can Bitcoin domination really advance to 40%?
The domination of the bitcoins crashing up to 40% is not a modern phenomenon, looking at how the bull markets developed 2017 and 2021. However, such a phenomenon that will happen again becomes more and more arduous, Considering the position of bitcoin In today’s investment world through the ETF Bitcoin point. These funds in these ETFs are closed in the long run, which means that the rejection of BTC dominance may not automatically cause huge liquidity flows to the Altcoin market, as shown in 2021 and 2017.
Even if the domination of the bitcoins is promoted in the direction of 40% and introduces a modern Altcoin cycleMany Altcoins will eventually end with brutal payments. In previous market cycles, most Altcoins suffered losses by over 90%, when the stubborn moods disappeared and the capital back to Stablecouins.
A distinguished picture from Dall.e, chart from tradingview.com
