I have been observing the market and I see that BTC dominance is breaking.
Despite the price of BTC is dropping, and I can see that altcoins like solana is holding quite well and just dropped a little.
Could this be the start of altcoin season? Maybe BTC dominance over the market will continue to drop.
What do you think?
Where is the drop on Bitcoin dominance?Despite the price of BTC is dropping, and I can see that altcoins like solana is holding quite well and just dropped a little.
Could this be the start of altcoin season? Maybe BTC dominance over the market will continue to drop.
What do you think?
That's the chart of Bitcoin Dominance on a daily basis, and it's pretty obvious that it's going upwards. If you will look at the performance of the top altcoins in the past week, the price of Bitcoin went up significantly, but most of the top altcoins went up, but not as high as what happened with Bitcoin. That just shows most of the money is going into Bitcoin hence, the increase in Bitcoin Dominance.
Bitcoin's price is dropping because we need a bit of a correction after that sharp pump. As for the altcoin season, it might happen, or it might not. One thing that you might observe is the Bitcoin dominance. Once that goes low, it's a sign that most of the money are going into altcoins already hence, a POSSIBLE altcoin season.