Bitcoin dominance has not only broken down from a two-year-long uptrend, but it has also retested the trend line as resistance and failed to reclaim the key level.
With trend line support now confirmed as resistance, its likely that Bitcoin dominance could see an extended downtrend in the days, weeks, and months ahead. But what does this mean for altcoins and the rest of the cryptocurrency market?
Bitcoin Dominates Cryptocurrency Market With Over 65% Share Currently
Bitcoin dominance is a metric that weighs Bitcoin’s market cap against the rest of the cryptocurrency landscape.
As the first-ever cryptocurrency, Bitcoin enjoys a first-mover advantage, brand power, and the most institutional interest and financial world support compared to the rest of the crypto market.
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This has helped Bitcoin’s market cap grow massively in relation to the rest of the thousands of altcoins making up the industry.
Prior to 2017, Bitcoin dominance had never fallen below 94%. It was that year and the hype bubble that sent BTC dominance is a brutal downtrend, falling to as low as 35% dominance.
But as the bubble popped, and the irrational speculative valuations of these untested altcoins fell by 99% or more in most cases. Even the strongest altcoins like Ethereum or Ripple fell by over 90%
It resulted in an uptrend forming in both Bitcoin and BTC dominance, bringing the metric to a peak of 73% during the last two years.
The uptrend support line, however, was finally breached in February 2020 during the massive altcoin market breakout, supported by historic trading volume.
BTC Dominance Dropping Could Lead to Massive Altcoin Season
BTC dominance has since retested the two-year-long uptrend line and confirmed it as support turned resistance.
With a bearish retest confirmed, further downside in BTC dominance is probable. And when Bitcoin dominance drops, it is time for altcoins to shine.
When altcoins outperform Bitcoin, crypto analysts and traders refer to this as an altcoin season. However, its been since before 2018 and long before most crypto investors bought in at the top of the bubble since such an alt season has occurred.
Crypto investors and traders may not know what to expect from altcoins when dominance breaks down. The last major breakdown resulted in BTC dominance falling from 95% to just 35%.
Related Reading | Crypto Titanic: Altcoin Investors Must Prepare to Sink With The Ship
A similar, 60% move down from the recent peak of 73% dominance, would mean Bitcoin has just 13% market share at the end of the next downtrend. A move like that would mean that altcoins have taken over the crypto market in a major way, and Bitcoin will be left at risk of falling out of its leadership position for the first time ever.
Featured image from Shutterstock origin »
By various measurements, Bitcoin has been outperforming the altcoin market
Clues for a change towards an altcoin season can be gleaned from Bitcoin Dominance, as well as the ETH/BTC chart
BiThe post Tracking Bitcoin's dominance and how investors can prepare themselves appeared first on AMBCrypto.
Bitcoin’s dominance relative to other major cryptocurrencies continues to soar reaching a new 4-year high. Bitcoin’s (BTC) dominance has surged to 64%, a four-year high, signaling its unrivaled strength in the cryptocurrency market.
Bitcoin dominance has been growing steadily after dropping to 40% in November 2022. This April, Bitcoin dominance crossed the 64% mark, meaning that the market cap of Bitcoin accounts for nearly two-thirds of the entire crypto market capitalization. While some…
Altcoins are gearing up for a possible breakout, as Bitcoin’s dominance shows signs of overextension.
The setup closely resembles the 2021 cycle — Is history about to repeat itself?
BitcThe post Bitcoin dominance crosses 64% in 4 years: 2021-style altcoin season to return? appeared first on AMBCrypto.
Bitcoin dominance was showing signs of cooling off after breaching a key resistance zone.
Are alternative assets primed for a resurgence in investor portfolios?
After a strong rally, BitcoinThe post Bitcoin dominance hits 63% - Time to rethink your altcoin strategy? appeared first on AMBCrypto.
Bitcoin dominance remains high but faces resistance, and its near-term breakout above $90k appears unlikely.
Is liquidity poised to rotate from Bitcoin into altcoins?
The cryptocurrency markThe post Bitcoin dominance peaks - Is the biggest altcoin season closer than you think? appeared first on AMBCrypto.
BTC dominance was at 62.10%, with a breakout signaling Bitcoin's strength and potential altcoin underperformance.
A breakdown below 60.50% could lead to a capital shift into altcoins, increasinThe post Bitcoin dominance at a make-or-break level—What it means for the market appeared first on AMBCrypto.
Bitcoin Dominance has consistently faced resistance at 71%, sparking major altcoin rallies
Altcoin markets are heating up as Bitcoin dominance approaches a key resistance level
Bitcoin [BTC]The post Bitcoin Dominance eyes 71% - Will this finally kickstart altcoin season? appeared first on AMBCrypto.
The rising Bitcoin Dominance was bad news for the altcoin markets.
The Stablecoin Exchange Reserves showed potential for a rebound.
In the past 24 hours, $2.18 billion worth of liquidations The post Bitcoin Dominance crosses 60%, why this is bad news for altcoins appeared first on AMBCrypto.
Bitcoin (BTC) dominance dips to 55. 81%, down from its November 2024 top of 61. 53%. Declining BTC dominance has paved the way for the altcoin season with over 75% of the top 100 altcoins outperforming Bitcoin consistently.
Bitcoin dominance drops to 60%, falling short of a $93,000 retest.
Altcoins like Dogecoin, Ripple, and Bonk gain traction as Bitcoin stalls.
On 15th November, Bitcoin’s [BTC] dominance wasThe post Bitcoin Dominance drops to 60%: DOGE, XRP to lead the altcoin rally? appeared first on AMBCrypto.
Bitcoin dominance declined in the last few days.
Ethereum’s technical indicators looked bearish, but BNB was bullish.
The market was somewhat in a consolidation phase as most of the crThe post Why altcoins might surge 300% as Bitcoin dominance falls appeared first on AMBCrypto.
Bitcoin's price has surged in recent weeks nearing its all-time high. The rally has been accompanied by a rise in Bitcoin's dominance of the total cryptocurrency market capitalization. Analysts are divided on whether this bull trend will continue uninterrupted.
As Bitcoin and Ethereum compete for market leadership, the crypto world is abuzz with speculation. The struggle between Bitcoin's dominance and the rise of alternative coins is sparking interest among traders.
Bitcoin dominance has reached a local high, warning investors of a potential market overheating.
THIS highlights the next best “dip” opportunity.
Two days ago, Bitcoin [BTC] dominance The post Bitcoin dominance signals overheating - Which 'dip' should you target? appeared first on AMBCrypto.
Bitcoin dominance continues to struggle at key resistance.
The altcoin season index reached its highest level in six months.
Bitcoin [BTC] dominance has struggled at a key resistance levelThe post Bitcoin dominance struggles at 58%: Good news for altcoins? appeared first on AMBCrypto.
Bitcoin dominance fell under the support of an ascending triangle pattern.
BTC’s price successfully tested a crucial support level in the last few days.
Bitcoin [BTC] has been facing sThe post Bitcoin dominance slips to 53%: Time to bet on altcoins? appeared first on AMBCrypto.
Bitcoin dominance has increased from 38% in 2022 to 56%, largely attributed to long-term holder accumulation.
Short-term holders are sitting on unrealized losses, with an overreaction bound to The post Bitcoin dominance hits 56%: Here's what it means for your holdings appeared first on AMBCrypto.
Bitcoin's dominance faces resistance, sparking speculation of an altcoin rally. Analysts await TOTAL2's breakout to confirm the altcoin season.
The post Bitcoin Dominance Hits Roadblock as Altcoins Gear for Rally appeared first on BeInCrypto.
The altcoin season index continued to indicate BTC’s dominance.
ETH’s market indicators looked bearish, but SOL's indicators turned bullish.
Bitcoin [BTC] has been the center of attracThe post Altcoin season? Ethereum, Solana shine as Bitcoin's dominance shifts appeared first on AMBCrypto.
Bitcoin's dominance was around 55% at press time.
The market remained in Bitcoin season despite a drop in its dominance.
Recently, Bitcoin [BTC] has experienced significant declines, causingThe post Bitcoin dominance dips to 55%: Time for altcoins to shine? appeared first on AMBCrypto.
Bitcoin's dominance was set to surpass 60% at the time of writing.
Bitcoin wallet activities saw a resurgence despite negative Funding Rates.
Bitcoin’s [BTC] dominance has steadilThe post Bitcoin dominance nears 60%: Will BTC help altcoins boost as well? appeared first on AMBCrypto.
Bitcoin has been in a slump since April.
The Tether and BTC dominance charts pointed toward a bullish future for crypto's top dog.
Bitcoin [BTC] was trading at $62.5k at press time, with theThe post Bitcoin dominance shows that altcoin season is still far away: Here's why appeared first on AMBCrypto.
The altcoin market cap increased against the Bitcoin market cap fall.
The launch of the spot Ethereum ETFs could send Bitcoin dominance further down.
AMBCrypto's analysis revealed that the BThe post As Bitcoin [BTC] dominance drops below 55%, is altcoin season here? appeared first on AMBCrypto.
Quick Take Bitcoin continues to trend down, falling over 11% from its all-time high. Despite this, Bitcoin dominance is on the rise, currently surpassing 56%. This level was briefly seen in April this year but was last consistently observed in April 2021.
Bitcoin dominance soared as prices saw green.
Inscriptions eased miner selling pressure.
Bitcoin's [BTC] price surge has started to leave other altcoins in the dust as the king coin contiThe post Bitcoin dominance reaches new highs - What’s next for BTC? appeared first on AMBCrypto.
In ongoing NuggetRush (NUGX) presale, Bitcoin (BTC), the world’s largest coin by market cap, is extending its dominance, looking at CoinMarketCap (CMC) data. As of early November 2023, the Bitcoin dominance level stood at over 51.
Quick Take Data analysis reveals a noteworthy trend in the crypto market as Bitcoin’s dominance has surged, hitting a fresh year-to-date high above the 54% mark. This is a level unseen since April 2021, highlighting Bitcoin’s increasing hold over the crypto market.
Bitcoin dominance rises to over 49%.
24-hour volume drops by over 40% as the price remains in the $28,000 region.
Bitcoin [BTC] has long held its position as the leading cryptocurrency, but The post As Bitcoin dominance surges, here's a look at the factors behind the rise appeared first on AMBCrypto.
The ascent in bitcoin's dominance rate is consistent with the bullish breakout in June, which marked the end of a prolonged range play between 38% and 48%.
Bitcoin's dominance on US exchanges soared to 71%.
Overall activity on Bitcoin declined despite the surge in price.
In the wake of Bitcoin's surge beyond the $26,000 threshold, the crypto maThe post Data shows Bitcoin dominance in US is on the rise - Here's what it means appeared first on AMBCrypto.
A key bitcoin dominance metric is flashing signs of a potential impending altcoin season, according to cryptocurrency analyst elcryptoprof. Bitcoin dominance refers to bitcoin’s market capitalization as a percentage of the total crypto market cap.
Rekt Capital, a top-notch analyst renowned for his insights on Twitter, recently shared his observations on Bitcoin’s dominance in the cryptocurrency market. He pointed out that Bitcoin’s dominance is currently undergoing a retest within a specific red zone.
Key Takeaways Bitcoin dominance has risen above 50%, having started the year at 42% Traditionally, dominance falls while market prices are rising in the sector, marking the year 2023 out as unusual This hammers home how Bitcoin is still finding its feet, and why prudence needs to be taken when extrapolating past performance to the […]
The post How rising Bitcoin dominance invalidates many crypto assumptions appeared first on CoinJournal.
Bitcoin secured its position as the leading coin as its dominance grew.
Bitcoin’s prospects looked bullish based on historic performance.
Bitcoin's [BTC] dominance has been on the rise forThe post Bitcoin dominance reaches 50% for first time in 2 years appeared first on AMBCrypto.
With the altcoin market crashing and TUSD temporarily depegging from the dollar, bitcoin and Tether's dominance rates have surged.
The post Bitcoin and Tether Dominance Surges as Investors Flock to Safe Havens appeared first on BeInCrypto.
The cryptocurrency market is an ever-evolving landscape, with new digital assets and technologies emerging regularly, but Bitcoin remains the most dominant and well-known. Bitcoin’s market dominance continues to rise, as crypto insiders predict it will reach its all-time high in 2023.
The bitcoin dominance rate has climbed amid increasing turbulence in crypto markets, and more lately, as the price of bitcoin also reached a nine-month high.
Bitcoin’s social dominance has hit its highest point since September 2022
Longs were unable to avoid liquidations as losses continue to pour in
Bitcoin's [BTC] price drop since the newThe post Bitcoin [BTC]: What its social dominance stats tell us about its 'king coin' label appeared first on AMBCrypto.
Breaking from the decade-long tradition of Bitcoin dominance, Ethereum has been outperforming the market in the past few months.
The post Research: Bitcoin may be regaining dominance over altcoins appeared first on CryptoSlate.
Bitcoin (BTC) dominance continues to break through local highs, reaching 46.5%, while Bitcoin closed its ninth weekly red candle in a row.
The post Bitcoin dominance up 20% in 2022 – what does this mean? appeared first on CryptoSlate.
Since the beginning of 2021, Bitcoin has been representative of the entire crypto market for many investors. It wouldn't be wrong to say that was true up until May, as the BTC Dominance Ratio reached The post Dwindling dominance or resilience, what will tip the scales for Bitcoin in 2022 appeared first on AMBCrypto.
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