The dominance of stablecoins USDT + USDC has once again shifted into a steady downtrend on the four-hour timeframe today. And in the last few days, it has fallen below the EMA 50 after a retest.
On the chart of trend and volume levels, the price could not return above the secondary trend line since October 2023 (when the active growth of BTC began).
All of this is great signs for the bulls of the cryptocurrency market.
The uptrend signal for dominance before this worked out cleanly. All three targets were achieved without breaking the potential break, after which dominance set a potential high and reversed. We drew your attention to these potential high marks back on November 26. Indicating a mirrored situation with #BTC. This turned out to be the current bottom of the correction for BTC, after which the market has shown growth. BTC alone has risen by 6%. Altcoins also look strong.
The intrigue around the dominance of key stablecoins remains the same. Will buyers of volatile assets break the signals of potential lows on the daily, two-day, and weekly timeframes?
The situation is again mirrored in the BTC chart. BUT with the difference that with sufficient strength of altcoins (which they are already showing), even within the price range of BTC, the dominance of stablecoins may continue to decline.
Regarding the signals from the indicators, it is especially worth noting the density of additional targets in the decline. From the current 5.23% down to 4.21%. The extreme additional target, from the monthly timeframe, is actually 0.64% 🤭.
But this is still unlikely. The historical low was 1.01% in July 2019, but the market was different back then.