I've been observing how Bitcoin's dominance is behaving at this level of the weekly SMA100. Historically, every time it breaks downward from here, altcoins have their moment. It has happened twice before, and both times marked the beginning of periods where altcoins took off.



Right now, we are at 58.49% and are again finding support at that moving average. The point is that if it gives way at this level, we will probably see a scenario similar to previous times, with declines in Bitcoin dominance and room for altcoins to breathe.

Everything depends on what happens at this threshold. If it holds, we stay as we are. If it breaks downward, then the story could repeat itself. Personally, I have my eyes on this because it will define the next major move.
BTC-0.3%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin