Bitcoin’s market dominance ($BTC .D) has been squeezing altcoins. When Bitcoin dominance eventually drops, it could signal the beginning of an altcoin season. Here’s what to watch for:
🔶 Bitcoin Pump Potential
— With U.S. Elections in 3 days and the FOMC meeting in 5 days, we might see Bitcoin gain momentum soon.
🔶 U.S. Presidential Election (November 5, 2024)
— Elections often introduce market volatility. If Bitcoin gains during this period, it could boost dominance, delaying altcoin season.
🔶 FOMC Meeting (November 7, 2024)
— The Federal Reserve's policy decisions on interest rates and economic direction could further impact Bitcoin and the crypto market.
🔶 Timing Altseason
— If Bitcoin dominance begins to dip post-election or after the FOMC meeting, we could see altcoins rally. Timing remains uncertain, but these events could be the trigger.
Let’s see if Bitcoin pumps and how it impacts altcoins. It’s just a matter of time before we find out!
