đ Market Update on #Bitcoin and #Altcoins đ
In the past five days, $BTC has been trading within a narrow range of $62,300 to $64,800, moving sideways without a clear breakout. This stagnant movement has caused a noticeable shift in market funds, as capital has begun flowing into altcoins, contributing to a decline in Bitcoinâs dominance. Some traders believe this may signal the end of the correction and the beginning of altcoin season, but itâs important to remain cautious.
Analyzing the dominance chart shows that every sharp rise in Bitcoin dominance is typically followed by a healthy pullback. The current dip is a natural part of the cycle following Bitcoin's recent dominance surge. True confirmation of an altcoin season will likely come when dominance falls below 53%âuntil then, these shifts are merely short-term fluctuations.
Looking ahead, I expect Bitcoin dominance to rise again, potentially reaching 58-60% before its final drop. This decline could set the stage for altcoins to shine.
For now, itâs crucial to stay patient. The real signal for sustained altcoin rallies will only come once Bitcoin dominance drops below 53%. Until then, what weâre seeing is likely just temporary market noise.
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