In the midst of the constant consolidation in the cryptomarkt, an analyst at X pseudonym Cryptododo7 has observed certain developments with the Bitcoin -Dominance that could form important implications.
Bitcoin Dominance climbs higher while Altcoins is preparing for taking off
In a recent X On March 21, Cryptodo7 shared a technical analysis of the Bitcoin Dominance Chart, which showed a possible altiation season. The Crypto analyst noted that Bitcoin -Dominance can be ready for a persistent upward trend after an outbreak and successful retest of a bullish pennant formation at the level of 61.25%.
In general, after a strong upward price movement as can be seen, the bullish pennant forms in the graph below in the early 2025. This price increase (known as the flagpole) is followed by a consolidation phase in which price movements make higher lows and lower highlights, making a symmetrical triangle, ie the pennant.
With a successful outbreak and retest of the Bullish Watch, Bitcoin Dominance has confirmed the expectations of a large increase, with cryptododo7 that predicts a potential target of 67.51%. However, the crypto analyst warns that this increase may not mean a market-wide rally, because Bitcoin dominance can rise in addition to a decrease in the price of Bitcoin and Altcoins.
Although the analyst further states that this projected dominance TOP of 67.51% may be the peak of Bitcoin -Dominance in this bear market, which indicates a possible altealth season. The altiation season, a prominent period in the Crypto market cycle, is characterized by Bitcoin’s outperformance from Bitcoin that is confirmed by a decrease in Bitcoin’s dominance.
Have certain analysts chopped The chances of an altealth season in the current cycle that has mentioned a huge increase in the number of Altcoin in the last four years. However, other analysts such as Cryptodo7 remain optimistic and stated that an altealth season will probably follow the rise in Bitcoin Dominance to 67.51%. During this period it is expected that Altcoins can experience massive capital influx that may be as high as $ 627 billion.
MACD Curl refers to possible reversal – More positives for the altical season?
In other developments, X -platform Morecryptoonline report The weekly MACD (moving average convergence -divergence) of the total crypto market capitalization (excluding the top 10 coins) starts to curl up that indicates a potential bullish shift in the Altcoin market.
For context, the MACD is a commonly used momentum indicator that helps identify potential trends. And although this signal suggests a possible shift, it remains a confirmation at an early stage of the altiation season.
At the time of the press, the total crypto market capitalization is $ 2.76 trillion, with Bitcoin that is good for $ 1.67 trillion of this value. In the meantime, the Coinmarketcap Altesean -Index is 21, suggesting that an Altcoin tree is not yet on its own.