Despite its recent all-time high, Bitcoin’s dominance in other markets has continued to remain stable in recent days. It is worth noting that Bitcoin’s dominance in the cryptocurrency market has steadily grown in recent days, and has recently surpassed the 64% significant threshold. Overall pressure on altcoins.
Although Bitcoin I’ve lost it recently The Altcoin market has witnessed a $105,000 support level in the past 24 hours. However, the period of imbalance between Bitcoin and altcoins Probably not lasting longer Technical analysis in particular shows that reaching the 64% advantage may be a turning point.
Bitcoin’s dominant attack resistance: exhausted?
Crypto Trader Astronomer Analysis on x Focusing on 64% of the region, this is a key turning point for BTC.D. His chart outlines the possible path to Bitcoin’s advantage, suggesting that the indicator has now entered widespread resistance of 64.00% to 64.40%. This is important because it is the level of rejecting previous upward attempts in the past month.
Even if Bitcoin is Print new ones only by cryptocurrency Recently, Bitcoin’s advantage has always been difficult to break more than 64% in May, indicating that the trend may have been exhausted. It is worth noting that after the bounce on May 28 was slightly above 63.5%, Bitcoin’s advantage was imprinted on the lower highs. Current price behavior reflects those early moves, lacking the bullish force needed to break the higher.
If the projection path in the chart below plays, the advantage may have a slight range before starting scrolling, bringing it to the lower 63% area and above. The trajectory on the chart suggests that this decline could fall in early June and finally flourish for Altcoins.
Will AltCoin momentum be better with Bitcoin’s decline soon?
The chart outlook shows that Bitcoin’s dominance rally is approaching exhaustion. Despite the recent losses in many Altcoins, the projection structure shows that Bitcoin’s advantage has been reduced to 63.45%, with imminent changes and potential declines.
From here, the next step will depend on how Bitcoin reacts at this level. As it begins to relax, the decline in Bitcoin’s advantage may rise with the price of major altcoins, especially in Large-scale stocks such as EthereumSolana and Dogecoin. So, this moment could eventually be an early stage in the wider altcoin season.
At the time of writing, CoinMarketCap data shows that Bitcoin’s advantage is currently 63.5%, higher than the critical 63.45%. At this point, Bitcoin’s dominance breaks down could lead to the Altcoin season. On the other hand, Ethereum’s advantage over the past 24 hours has increased by 2.01% to 9.4%. However, if Bitcoin is dominant, the concept of approaching the mountain coin season may collapse Try to get close every month 64%.
Featured Images from Getty Images, TradingView.com Charts
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