BITCOIN DOMINANCE AT RESISTANCE

Bitcoin dominance is currently testing a critical resistance level near 61.5%, with multiple wicks poking above but no decisive breakout as of yet. While it's worth noting that Bitcoin dominance isn't a tradeable metric—there are no orders on the books—it can still serve as a valuable sentiment indicator for the broader crypto market, particularly in gauging the relative strength of altcoins versus Bitcoin.

Historically, dominance at resistance often signals a potential pause or reversal, suggesting that Bitcoin's outperformance against altcoins may face some challenges here. However, a confirmed breakout above this level could indicate further liquidity flowing into Bitcoin at the expense of altcoins. Traders should watch for either a strong rejection or a sustained breakout to glean insights into the next potential trend for altcoins in relation to Bitcoin.