Altcoins Bounce Back With BTC Dominance Dropping, Is the Bottom In?
Crypto analyst van de Poppe signals of a potential reversal in altcoin prices, as seen in their performance against Bitcoin. BTC dominance has tanked 2% in the last 24 hours.
Solana and Chainlink register the strongest bounce with 10% gains each.Bitcoin dominance drop by 2% in 24 hours makes way for strong altcoin recovery.Altcoin prices show strong reversal against Bitcoin indicating that the bottom could be in.After facing the brutal sell-off on Monday, altcoins have bounced back once again putting up fresh optimism among investors. Among the top ten altcoins, Solana (SOL) has gained the most by 10% and is currently trading at $136. With this price pump, Solana has offset all its last week’s losses. Other popular altcoins like Cardano (ADA), dogecoin (DOGE), Toncoin (TON), are up anywhere up between 3-5%.
Altcoins Pump As BTC Dominance Drops
The Bitcoin price correction pushed the BTC price under $59,000 earlier today before recovering to $61,500 once again. However, with the Bitcoin dominance declining, altcoins have registered strong gains. In the last 24 hours, the Bitcoin dominance has tanked by 2% suggesting a strong liquidity flow happening into altcoins.
The “Total 3 Index” including Bitcoin and Ethereum, is holding strong at the support levels showing signs of potential trend reversal. This development has forced investors to question whether the alt season is about to begin.
