🔥🔥Is Bitcoin's Weakening Dominance Signaling Altcoin Season? 🔥🔥

Crypto analyst Ali Martinez shared an interesting analysis on Bitcoin's market dominance. Martinez emphasized that a rising wedge formation has formed in Bitcoin's dominance and that this pattern usually indicates a downward trend. Rising wedges are formations characterized by increasing pressure and the emergence of a downward risk after prices continue in an uptrend for a while. As Martinez stated, if this pattern is confirmed, it is possible that Bitcoin's pressure on the market will decrease and altcoins will become more prominent.

The possible weakening of Bitcoin's market dominance may signal a significant change in the cryptocurrency market. Bitcoin, which has been the leader of the crypto world for many years, may lose this balance due to the increasing popularity of altcoins and developing areas of use in the recent period. Market dynamics reveal that the decrease in Bitcoin's dominance is not only based on technical indicators. Bitcoin, which experienced a slight price increase in mid-September, could not avoid falling below the critical $ 62,000 level for a short time. However, this price increase, On the contrary, investors' interest has increasingly started to turn to altcoins. This situation may be an indication that the altcoin market is preparing for a big rise. Bitcoin's market dominance has currently fallen to 57.95%. This rate represents Bitcoin's share in the total cryptocurrency market, and historically, when this rate falls, altcoins are usually seen to experience a period of rise. This downtrend indicates the potential for the altcoin market to make a big leap. Falling wedge formations show that prices make lower peaks, approach the support line and then move with an upward break.