According to TradingView, bitcoin's dominance currently stands at 58.40%, just below the critical 60% level.
However, some analysts believe that the 60% level could signal a broad rotation toward other crypto assets.
On August 18, Benjamin Cowan, founder of Into The Cryptoverse, said that he believes #bitcoin will take the final steps toward 60% by the end of December at the latest. It has struggled to stay above the $100,000 mark since breaking through it. Bitcoin has been trading below $100,000 since Dec. 19, after hitting a high of $108,300 on Dec. 17.
According to Ryan Lee, chief analyst at BitGet Research, bitcoin could surpass $105,000 if liquidity returns after the Christmas holidays. The current bitcoin downtrend is a classic symptom of low liquidity during the year-end and New Year's holidays. Lee recently told Cointelegraph that market activity typically picks up again after Christmas and funds are expected to take aggressive positions in sectors that could benefit from Trump's upcoming inauguration.... Our expected trading range for #BTC this week is between $ 94,000 and $ 105,000.
Read us at: Compass Investments