*Altcoin Season Alert: Bitcoin’s Dominance Faces Breakdown as Altcoins Eye Explosive Rally*
Bitcoin dominance shows a bearish rising wedge pattern, indicating a possible decline.
Altcoins are breaking out of a falling wedge pattern, hinting at a massive rally ahead.
Altcoin Season Index climbs to 45, raising speculation of an upcoming full altcoin season.
The altcoin market is heating up, with a recent 5.7% surge in market cap signaling the start of a potential altcoin season. Ethereum and other major altcoins are primed for big gains as Bitcoin’s grip on the market weakens.
Crypto analyst Ali Martinez has warned of a potential breakdown in Bitcoin dominance, with a rising wedge pattern indicating a bearish trend.
Meanwhile, the altcoin market cap is breaking out of a falling wedge, hinting at a massive rally ahead. Could this be the moment altcoins steal the spotlight?
Bitcoin Dominance To Faces Potential Breakdown
According to a recent tweet by popular crypto analyst Ali Martinez, Bitcoin’s dominance in the crypto market may be on the verge of a breakdown. Martinez pointed out a rising wedge pattern forming in Bitcoin dominance, a bearish signal that often precedes a decline.
This potential shift could have created opportunities for altcoins to gain more market share.
Since the middle of September, Bitcoin has begun to experience a slight price increase, briefly surging past critical levels below $62,000. This price rise also affected its market dominance, but instead of solidifying its position, investors have started shifting their focus to altcoins.