Bitcoin dominance has broken a multi-year ascending trendline for the first time since late 2022.
Altcoins are showing increased strength, breaking resistances as Bitcoin’s market share declines.
The next key dominance level appears near the 59%–58% support zone from early 2024.
Bitcoin’s market dominance has moved below a significant multi-year trendline, indicating a shift in market structure. Weekly chart data shows the dominance percentage declining from recent highs, now testing levels last seen months ago. This move has drawn attention across the market, as it marks the first break below this trendline since the upward trend began in late 2022.
Bitcoin Dominance Breaks 20-Month Trendline as Altcoin Market Strengthens
The chart shows Bitcoin dominance rising steadily since November 2022, supported by a strong ascending trendline. This structure persisted for over 20 months, guiding the dominance from under 40% to recent peaks above 56%. However, in the latest weekly candle, the dominance closed beneath the trendline for the first time during this period. This development follows several weeks of downward pressure from highs near 57%.
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The shift in dominance coincides with increased strength in the altcoin market. Several altcoins have broken past established resistance levels over recent sessions, producing consecutive weekly gains. Notably, these moves occurred as Bitcoin’s relative share of total cryptocurrency market capitalization declined. Chart data suggests that the dominance drop has been steady, with a sharper move occurring during the last two weekly sessions. This aligns with rising altcoin volumes and stronger price action in non-Bitcoin assets.
Technical Context and Key Levels
From a technical standpoint, the break below the trendline removes a long-standing support for Bitcoin dominance. Previous tests of this trendline in mid-2023 and early 2024 resulted in rebounds, reinforcing its importance. Now, the loss of this support opens the way for dominance to retest lower percentage zones. Weekly data shows that the next visible area of interest lies near the 59%–58% range, a region that held support in early 2024.
The broader crypto market capitalization remains elevated, but the composition is shifting. While Bitcoin retains the largest share, the recent move underscores growing activity in alternative assets. The combination of a broken multi-year support and strengthening altcoin charts places the current phase as one of the most notable structural changes in market share dynamics over the past two years.
