ðĨ Bitcoin Dominance Below 40%: Alt Season Ahead?
As of today, the Bitcoin Dominance Index has gone below 40% again. This means that BTC's market cap is lower than 40% of the total crypto market cap.
Historically, a fall in Bitcoin Dominance means a strong alt season is on its way. See Jan-May 2020 for example.
The 40% support has been holding for the enterity of the current-bull cycle. If we manage to the week below 40%, we might see a further fall, which would be amazing for alts.
If we look back at previous tops (2018, 2020 mid cycle) we can see that tops occurr after a massive fall of BTC dominance. Since Bitcoin is currently not even close to its top, this might indicate that Bitcoin has more upside if BTC dominance keeps falling.
My target for the coming months would be 30%. This could potentially be the area where BTC will top, we'll see by then.
Happy trading!
Historically, a fall in Bitcoin Dominance means a strong alt season is on its way. See Jan-May 2020 for example.
The 40% support has been holding for the enterity of the current-bull cycle. If we manage to the week below 40%, we might see a further fall, which would be amazing for alts.
If we look back at previous tops (2018, 2020 mid cycle) we can see that tops occurr after a massive fall of BTC dominance. Since Bitcoin is currently not even close to its top, this might indicate that Bitcoin has more upside if BTC dominance keeps falling.
My target for the coming months would be 30%. This could potentially be the area where BTC will top, we'll see by then.
Happy trading!
ðŊOfficial Channel: t.me/FieryTradingChannel
ðTry my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
â Monster Signals: t.me/monster_cryptosignals
ðĨPremium Signals: www.fierytrading.com
ðTry my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
â Monster Signals: t.me/monster_cryptosignals
ðĨPremium Signals: www.fierytrading.com
