Prominent Analysts Highlight Key Data for Upcoming Altcoin Rally: Insights for Crypto Traders (ALT)
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- Bitcoin’s market dominance is showing signs of decline, sparking hope among altcoin investors.
- Crypto analysts, including Michaël van de Poppe, suggest that Bitcoin’s dominance has likely peaked, indicating a potential rise for altcoins.
- Matthew Hyland, another popular crypto analyst, notes that Bitcoin’s dominance is losing major support points.
As Bitcoin’s market dominance wanes, altcoins may be poised for a surge. Crypto analysts weigh in on this shift, offering insights for investors.
Bitcoin’s Dominance: A Growing Concern
According to data from TradingView, Bitcoin’s share of the total crypto market, also known as Bitcoin dominance, was recorded at 53.90%. Although this dominance has dropped by 1.75% in the past week, it has increased by 4.63% since the beginning of the year. The decline in market share coincides with a 10.44% drop in Bitcoin’s price over the same seven-day period.
