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I just checked the Bitcoin dominance chart and the situation is interesting. The BTC.D has been bouncing between support and resistance within that symmetrical triangle that has been forming for a while, but it finally managed to break downward. That’s what many of us were waiting to see.
What worries me now is that if Bitcoin dominance continues to fall, we will probably see quite a bit of selling pressure on altcoins in the coming weeks. According to technical levels, the next significant support would be around 60%-61%, so there’s room for it to fall a bit more from where it is now.
For now, Bitcoin maintains its market share at 57.15%, but that triangle breakout is a clear sign that investors are rotating capital. We need to watch how Bitcoin dominance behaves in the coming days.