AltCoin Season located while Bitcoin Domination becomes ‘overpaying’

The price of Bitcoin continued to grow, reaches its highest point since February, because trade optimism increased in front of the Federal Reserve decision.

Bitcoin (Btc) She climbed at 97,650 dollars on Wednesday, but 30% of the lowest point this year. This last rally pushed the dominance of the Bitcoin market at 65.70%, the highest level since January 2021. years.

The dominance increased as a lot of Allcoin, especially Etherum (El) continued to agree on the market. Etherum’s market domination fell to 7.5% of the top of 22.27% in 2022 years. Years. Its price is in danger of falling at a record low v. Bitcoin.

The dominance of Bitcoin strengthened because BTC remains only a few points beneath its time, while most Altcoins reduced significantly from their 2024 peaks. For example, Ripple (XRP) fell by over 37% while Cardano (Ada), Solana (Salt) and the throne (Twitch) They dropped by over 50%, 51%, and 45% of their European hypovides.

Demand for Wall Street played a crucial role in supporting Bitcoin. The BitCoin ETFS video saw a strong inflow, and the funds under management exceeds 111 billion dollars and more than 40 billion dollars accumulated inflow.

The Bitcoin dominance is in danger of return

The weekly chart shows that the dominance of Bitcoin was uniform 38.86% in 2021 and 2022. Before he strongly set up a strong rally at 65.4% today. It remains above the 50-week and 100-weekly moving average, while the average directional index climbed to 43. ADKS above 25 generally signals strong torment.

However, the dominance also formed a pattern pattern of wedge, while the relative force index switched to level with exceeding 74.10. This is a sign that the dominance will soon have a reversal of how investors turn to AltCOINS. This rotation is likely to happen when the dominance is hit by 72.92%, the highest level in December 2022. years.

Altcoys formed a megaphone sample

The weekly graph for AltCOINS (without bitcoin) shows the creation of a bilkal megaphone sample, which characterizes two different working trends. Market cap recently pulled to the lower limit of the form, indicating a potential jump because the bulls target the upper trend.

Altcoini also finished a large part of the Bullish harmonious cable samples and now form a final CD leg. Until the market cap remains above the lower trendline, the probability of the upcoming Altcoin season remains high.