Many encryption investors Expect the full altcoin season Many altcoins excel over Bitcoin completely. This feeling is detected by various expectations, especially now after Bitcoin dominated He rose to a major rejection zone. However, bitcoin dominance tells a different story.
It is worth noting that the Bitcoin dominance has collapsed over a 63.96 % area and approaches a critical area of ​​about 64.45 %. According to the Crypto Rekt Capital analyst, it can suppress near this level any hopes in the Altcoin season.
Bitcoin dominates the main historical threshold
Bitcoin continued to dominate the encryption market in anger, even while correcting prices, which highlighted most of the April prices. As Bitcoin is now at the level of last time seen in 2021, during the height of the Taurus. How to play here can determine the fate of the Altcoin season.
What makes The current Bitcoin dominance is interesting It is the consistency and duration of the direction. After leaving a multi -year dirt canal in 2023, Bitcoin dominated a clean upward trend, supported by a strong upward trend. The latest re -test of an area of ​​57.68 % to 59 %, characterized by a black circle in the monthly BTC dominance chart below, caused a new increase now threatening to convert 64 % of the resistance to support.
This was It was highlighted in a post on XWhere Rekt Capital noticed that dominance is now at its highest levels that have not been seen since early 2021. Now, responsibility depends on whether Bitcoin dominated April over 64 %, especially if it fluctuates the level to support to re -test, as it may delay or even suppress the power of Altcoin.
He explained that in such a scenario, Bitcoin will be strengthened in the upward trend and will target the next historical resistance area near 71 %, another level reached in 2019. Such an extension in bitcoin dominance will come naturally at the expense of Altcoin market share. In short, the longest bitcoin is dominant, and the smaller the window for the Altcoin season.
The short -term Altcoin window is still possible
Rekt Capital admitted that a ALTCOIN window summary It can still come if bitcoin dominance begins to fluctuate near the 64 % area. However, he warned that such a period will be characterized by high fluctuations and is likely to be short -term. At the time of writing this report, Bitcoin was 63.2 %, as it has recently reached 63.6 % in the past 24 hours.
The decisive monthly closure in the next few days can determine the budget market structure that is heading to May. Altcoin holders may want a large gathering to watch this scheme more than Any individual encryption settingBecause if Bitcoin continues to control, the window Altcoins can be narrowed quickly.
Distinctive image from Adobe Stock, Chart from TradingView.com
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