Bitcoin Losing Dominance? Altcoins May Be Ready for a Breakout
- Bitcoin dominance dips to 63.39%, opening the door for altcoins to rise in market share.
- Analyst predicts the start of “Altcoin Season” with growing interest in altcoins.
- Altcoins are expected to see increased trading volumes and volatility in the coming weeks.
The cryptocurrency market is undergoing a significant change as Bitcoin’s dominance continues its downward trend, creating room for a potential altcoin rally. Bitcoin’s market share, which previously held above 65%, dropped to 63.39%, indicating dynamic changes in the market. This drop in Bitcoin dominance created a space for the altcoins to pick up momentum, attracting investor interest.
According to analyst Crypto Rover, the onset of “Altcoin Season” implies a possible change in the pace of trading from Bitcoin and Ethereum to a broader assortment of altcoins like Solana, Cardano, and Avalanche that can get new opportunities. Earlier, while altcoins gained momentum, the volatility in the crypto market increased, particularly among mid- and small-cap cryptocurrencies, opening a window for swing traders and momentum investors.
Ethereum’s Demand Zone
As of press time, the ETH to…
The post Bitcoin Losing Dominance? Altcoins May Be Ready for a Breakout appeared first on Coin Edition.
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Bitcoin Losing Dominance? Altcoins May Be Ready for a Breakout
- Bitcoin dominance dips to 63.39%, opening the door for altcoins to rise in market share.
- Analyst predicts the start of “Altcoin Season” with growing interest in altcoins.
- Altcoins are expected to see increased trading volumes and volatility in the coming weeks.
The cryptocurrency market is undergoing a significant change as Bitcoin’s dominance continues its downward trend, creating room for a potential altcoin rally. Bitcoin’s market share, which previously held above 65%, dropped to 63.39%, indicating dynamic changes in the market. This drop in Bitcoin dominance created a space for the altcoins to pick up momentum, attracting investor interest.
According to analyst Crypto Rover, the onset of “Altcoin Season” implies a possible change in the pace of trading from Bitcoin and Ethereum to a broader assortment of altcoins like Solana, Cardano, and Avalanche that can get new opportunities. Earlier, while altcoins gained momentum, the volatility in the crypto market increased, particularly among mid- and small-cap cryptocurrencies, opening a window for swing traders and momentum investors.
Ethereum’s Demand Zone
As of press time, the ETH to…
The post Bitcoin Losing Dominance? Altcoins May Be Ready for a Breakout appeared first on Coin Edition.
Read More