Bitcoin Dominance Signals Top as Banana Zone Phase Nears

Bitcoin dominance reached 65% on May 8, triggering daily, weekly, and monthly DeMark topping signals. CoinGlass data shows rising altcoin futures volume and funding rates, suggesting capital shift from Bitcoin to altcoins. Ethereum price surged 9.1% weekly, while altcoin season index moved past 50, indicating increasing altcoin strength. Bitcoin (BTC) holds strong above $102,800 , up 4.75% daily and well above the $100,000 mark, even as its market dominance meets key resistance near 65%. Multiple DeMark indicators — daily, weekly, and monthly — now show topping patterns, according to investor Raoul Pal . These technical indicators are often used to identify exhaustion in market trends. BTC Dominance 4H Chart with 50-Period EMA. Source: TradingView. Raoul Pal: Bitcoin Dominance Shows Topping Signals via DeMark Indicators The current dominance level remains lower than the 2021 peak and even further below the 2017 high. BTC Dominance Monthly Chart with 50-Period EMA. Source: TradingView This pattern of lower highs could signal a turning point. Market analysts view this as a potential early sign that capital may rotate from Bitcoin to altcoins. … The post Bitcoin Dominance Signals Top as Banana Zone Phase Nears appeared first on Coin Edition .

Source: Coin Edition