Market update on #Bitcoin and #Altcoins:
Over the last five days, $BTC has been caught in a tight range, fluctuating between $62,300 and $64,800. This sideways movement hints at a shift in market dynamics, with a noticeable outflow of capital into altcoins, as reflected by the dip in Bitcoinâs dominance.
Some traders speculate we might be witnessing the "end" of the correction, potentially marking the start of an altcoin season. However, caution is advised.
Taking a closer look at the dominance chart, it's evident that significant rises are often followed by healthy pullbacks. The recent spike in Bitcoin dominance suggests that this correction is a natural and necessary phase of the cycle.
True confirmation of an alt season will likely emerge when dominance dips below 53%. Until then, we are observing short-term fluctuations.
Stay informed and ready for the next move!
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