Bitcoin Dominance Nears Key Resistance, Potential Altcoin Rally Could Follow Capital Rotation
Main Idea
Bitcoin dominance is nearing a key resistance level at 64%, which could signal an upcoming altcoin rally driven by capital rotation and bullish technical signals.
Key Points
1. Bitcoin dominance is currently at 61.3%, having gained over 23 percentage points since mid-2024, but faces strong resistance at 64%.
2. A potential bearish MACD cross on Bitcoin dominance suggests weakening momentum, which could lead to capital shifting into altcoins.
3. Altcoin market cap indices TOTAL2 and TOTAL3 have formed a golden cross, indicating potential bullish momentum for altcoins.
4. A decisive breakdown of Bitcoin dominance below 64% is seen as a key catalyst for a major altcoin rally.
5. Historical trends show that altcoin rallies often follow periods of Bitcoin dominance pullbacks, with potential gains lasting through October.
Description
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