First signs of recovery for Bitcoin

Meanwhile, Benjamin Cowen, founder of Into The Cryptoverse, emphasized that Bitcoin achieved “the highest daily close of the entire cycle” in market dominance. Currently, Bitcoin’s market dominance is 57.80 percent, according to TradingView data.

Will Clemente, co-founder of Reflexivity Research, said that there are “first signs of recovery” for Bitcoin in technical indicators. Clemente said, “We expect to regain its 200-day moving average, which could signal the beginning of a new movement for altcoins.”