Bitcoin dominance #BTC is currently consolidating within an ascending channel pattern signaling a period of indecision in the market. The price action within this channel suggests that a breakout to the upside or a breakdown to the downside could be the catalyst for the next significant move in the crypto space. A breakout could indicate increased dominance for Bitcoin while a breakdown could lead to a shift in favor of alt coins. If Bitcoin’s price remains strong despite a decline in dominance it may signal the onset of an altcoin season where alt coins could outperform Bitcoin. Traders and investors are closely watching this pattern, as it will likely determine the direction of the broader market in the near term.

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