Bitcoin is currently demonstrating significant structural strength, holding position near the $116,600 level. This resilience is underscored by the Bitcoin price managing to remain above key moving average levels.
Simultaneously, major alternative cryptocurrencies (altcoins) are experiencing notable gains, signaling a potential shift in market dynamics. Speculative token Shiba Inu (SHIB) is trading near $0.00001286, showing signs of increasing buying interest and closely approaching a technical breakout threshold.
Further fueling the altcoin movement, XRP has surged 11%, successfully breaking out of a prolonged consolidation phase and exhibiting strong bullish momentum. Technical analysis suggests a daily close above the $3.40 price point could propel XRP toward additional gains.
The concurrent rallies in Shiba Inu and XRP are contributing to a noticeable decline in Bitcoin’s overall market share dominance, indicating capital rotation within the cryptocurrency sector as investors diversify holdings beyond the market leader.