Hello, Traders!
After falling steeply during March-May this year, there has been a rebound in the BTC dominance chart.
The pattern in the market remains as follows: when Bitcoin's price drops, altcoins lose more value than Bitcoin, and when it rises, altcoins lag significantly behind. This shows us that Index (Bitcoin) is stronger than other assets in the market. This dynamic causes the BTC's dominance to increase.
At the moment, the price value on the dominance chart is in the range of 46.05 - 50.12
As can be seen from the past, this range served as a reversal zone in 2017-2018.
Altcoins have lost between 75% and 90% from their highs so if the current trend continues, we could see an exit to 50.12 on the dominance chart after which the market will reverse.
Good luck and watch out for the market!
After falling steeply during March-May this year, there has been a rebound in the BTC dominance chart.
The pattern in the market remains as follows: when Bitcoin's price drops, altcoins lose more value than Bitcoin, and when it rises, altcoins lag significantly behind. This shows us that Index (Bitcoin) is stronger than other assets in the market. This dynamic causes the BTC's dominance to increase.
At the moment, the price value on the dominance chart is in the range of 46.05 - 50.12
As can be seen from the past, this range served as a reversal zone in 2017-2018.
Altcoins have lost between 75% and 90% from their highs so if the current trend continues, we could see an exit to 50.12 on the dominance chart after which the market will reverse.
Good luck and watch out for the market!