Many crypto investors are Expected mature altcoin season Many Altcoins are completely superior to Bitcoin. This sentiment is revealed through different prospects, especially now the dominance of Bitcoin Up to the main rejection area. However, Bitcoin’s dominance tells a different story.
It is worth noting that Bitcoin’s advantage has lagged behind 63.96% of the region and is close to 64.45% of the key region. According to crypto analyst Rekt Capital, a proximity above this level may suppress any hope for the Altcoin season.
Bitcoin’s Advantages Push to Key Historical Thresholds
Even during the price correction period, Bitcoin’s dominance against the crypto market continued to be angry, highlighting most of the price action in April. For now, Bitcoin’s advantage is now at the last level of 2021 during the Bulls’ rally peak. Its performance here can determine the fate of the Altcoin season.
What makes The current Bitcoin advantages are interesting is the consistency and duration of the trend. After breaking through years of downward channels in 2023, Bitcoin’s advantage has been in an upgraded clean trend and is backed by a strong uptrend line. The latest retest in the area marked by black circles below in the monthly BTC advantage chart below has resulted in a new surge, with the possibility of shifting 64% of the area from resistance to support.
This is Highlight in posts on xRekt Capital noted that the advantage is now at the highest level not seen since the beginning of 2021. Now, about whether Bitcoin’s advantage makes the April level close at more than 64%, especially if it tilts the level into retests, as it could delay or even suppress Altcoin’s strength.
He explained that in this case, the upward trend in Bitcoin’s dominance will be strengthened and may target the next historical resistance zone close to 71%, which has reached this level in 2019. This expansion of Bitcoin’s advantage will naturally come at the expense of replacing altcoin market share. In short, longer bitcoins are dominant, with the smaller the window for the top season.
Short-term Altcoin windows are still possible
Rekt Capital acknowledges A short Altcoin window If the Bitcoin advantage begins to fluctuate around 64% of the region, it may still occur. However, he warned that such periods would be characterized by high volatility and could be short-lived. At the time of writing, Bitcoin has an advantage of 63.2%, up to 63.6% in the last 24-hour year.
In the next few days, the monthly decisiveness can determine the broader market structure through May. Altcoin holders who wish to have a major rally may want to watch this chart Any personal encryption settingsbecause if Bitcoin continues to dominate, AltCoins may shrink quickly.
Featured images from Adobe Stock, charts from TradingView.com
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