Crypto Market Shift Incoming: BTC Dominance Weakening, Altcoins Gaining Strength

Bitcoin dominance is nearing the top of a multi-year ascending channel, signaling a possible breakdown. Altcoin market (TOTAL2) is holding key Fibonacci support and showing early signs of accumulation. A BTC dominance breakdown could trigger a wave of capital rotation into altcoins, fueling an altcoin season. After two years of a powerful uptrend, Bitcoin’s dominance over the crypto market may be about to turn. According to analyst @el_crypto_prof, cracks are beginning to form in a long-standing pattern on the BTC dominance chart, a development that could signal the start of a massive rally for altcoins. The analyst warned that “this thing will break to the downside sooner or later — and then you will see altcoins reach unimaginable levels in no time,” noting that an altcoin season is very likely in the near future. BTC Dominance Chart: Cracks Are Forming The weekly BTC dominance chart shows a rising channel stretching back to early 2023, marked by consistent higher highs and higher lows. Every touch of the upper and lower trendline has historically resulted in reversals. However, as Bitcoin’s share of the crypto market approaches the upp… The post Crypto Market Shift Incoming: BTC Dominance Weakening, Altcoins Gaining Strength appeared first on Coin Edition .

Source: Coin Edition