Bitcoin Dominance Falls, Altcoins Ready to Skyrocket!
Bitcoin Dominance (BTCDOM), which shows the percentage of Bitcoin capitalization compared to the entire crypto market, shows an optimistic movement. Based on analysis from a crypto expert on social media This could allegedly have a big impact on the crypto market. Rekt Capital sees several main points in its analysis, namely:
Similar Pattern to 2018
In 2018, Bitcoin dominance took 304 days to undergo a re-accumulation phase (orange box). After that, Bitcoin managed to penetrate the resistance level at 57.68 percent and turned it into support. Also Read: Bitcoin Projected to Reach US$ 142,000 in 2025 By This Analyst
Five years later, the same pattern is seen again. Bitcoin dominance has been in a re-accumulation phase for 304 days, struggling around the same level. In the coming days, analysts expect this level to turn into support.
Higher Trading Volume
Unlike 2018, this time the trading volume was much larger. At the breakout five years ago, volume was recorded at 13.17 trillion. However, in the current cycle, volume has reached 59.37 trillion.
The altcoins that are quite prominent are Ethereum $ETH , Solana $SOL , SUI $SUI , Aptos