Altcoin Season: Bitcoin Dominance Reaches Critical Level Above 64%
The post Altcoin Season: Bitcoin Dominance Reaches Critical Level Above 64% appeared on BitcoinEthereumNews.com. Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Despite the ongoing correction from its recent all-time high, Bitcoin’s dominance over the rest of the market has continued to hold steady in recent days. Notably, Bitcoin’s dominance in the crypto market has increased steadily in recent days, recently surpassing a significant threshold of 64% and exerting pressure on altcoins across the board. Although Bitcoin itself recently lost the $105,000 support level in the past 24 hours, the altcoin market witnessed dips throughout last week. However, this period of imbalance between Bitcoin and altcoins may not last much longer, especially as technical analysis suggests the dominance reaching 64% might be a turning point. Bitcoin Dominance Taps Resistance: Exhaustion Ahead? Crypto trader Astronomer shared an analysis on X, highlighting the 64% region as a crucial turning point for BTC.D. His chart, which outlines a possible path for Bitcoin dominance, shows that the metric has now entered a wide resistance block between 64.00% and 64.40%. This is important because this is a level that has rejected previous upside attempts throughout the past month. Even with Bitcoin being the only cryptocurrency to print a new all-time high in recent times, the Bitcoin dominance has found it hard to break above 64% in May, which shows that the trend might be becoming exhausted. Notably, after bouncing just above 63.5% on May 28, Bitcoin’s dominance printed a lower high. The current price behavior mirrors those earlier moves, lacking the bullish strength needed to break higher. Source: Astronomer on X If the projected path in the chart below plays out, the dominance could range slightly before beginning a rollover that takes it into the lower 63% zone and beyond. The trajectory on the chart suggests the decline could steepen in early June and finally open up…
The post Altcoin Season: Bitcoin Dominance Reaches Critical Level Above 64% appeared on BitcoinEthereumNews.com.
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Despite the ongoing correction from its recent all-time high, Bitcoin’s dominance over the rest of the market has continued to hold steady in recent days. Notably, Bitcoin’s dominance in the crypto market has increased steadily in recent days, recently surpassing a significant threshold of 64% and exerting pressure on altcoins across the board. Although Bitcoin itself recently lost the $105,000 support level in the past 24 hours, the altcoin market witnessed dips throughout last week. However, this period of imbalance between Bitcoin and altcoins may not last much longer, especially as technical analysis suggests the dominance reaching 64% might be a turning point. Bitcoin Dominance Taps Resistance: Exhaustion Ahead? Crypto trader Astronomer shared an analysis on X, highlighting the 64% region as a crucial turning point for BTC.D. His chart, which outlines a possible path for Bitcoin dominance, shows that the metric has now entered a wide resistance block between 64.00% and 64.40%. This is important because this is a level that has rejected previous upside attempts throughout the past month. Even with Bitcoin being the only cryptocurrency to print a new all-time high in recent times, the Bitcoin dominance has found it hard to break above 64% in May, which shows that the trend might be becoming exhausted. Notably, after bouncing just above 63.5% on May 28, Bitcoin’s dominance printed a lower high. The current price behavior mirrors those earlier moves, lacking the bullish strength needed to break higher. Source: Astronomer on X If the projected path in the chart below plays out, the dominance could range slightly before beginning a rollover that takes it into the lower 63% zone and beyond. The trajectory on the chart suggests the decline could steepen in early June and finally open up…
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