Altcoin season signals hide in ‘many weeks’ of bearish BTC dominance: Analyst

💡 DMK Insight

Bitcoin’s dominance is slipping, and that could mean altcoins are gearing up for a run. With Bitcoin currently at $106.93, traders should pay attention to its dominance chart, which has shown bearish trends for weeks. This shift often signals a rotation into altcoins, especially if Bitcoin fails to reclaim key resistance levels. If you’re holding altcoins, now might be the time to consider scaling in or adjusting positions based on their relative strength. Watch for any significant breakouts in altcoins that could indicate a full-blown altcoin season. But here’s the flip side: if Bitcoin suddenly reverses and regains dominance, it could pull altcoins back down. Keep an eye on Bitcoin’s price action, particularly if it approaches the $110 mark, as that could be a pivotal point for both Bitcoin and the altcoin market. Also, monitor trading volumes; a surge in altcoin volumes could confirm the shift in sentiment.