BTC holds $116K support after multiple rejections at $118K, keeping bullish recovery intact.
Bitcoin dominance breaks below EMA-50 for the first time since early 2023.
Altcoin market cap ratio bounces from multi-year trendline, signaling potential rotation.
Bitcoin’s dominance has slipped below a critical two-year support level, igniting fresh speculation of an incoming Altseason. While BTC holds firm above $116,000, capital rotation into altcoins is showing its strongest signs in months.
BTC Holds Key Support as Altcoins Show Strength
Bitcoin (BTC) is trading above $116,000 after reclaiming the zone earlier this week, according to Alpha Crypto Signal data. The level is now acting as support following repeated rejections near $118,000 in recent weeks.
https://twitter.com/alphacryptosign/status/1954360187080593867
On August 10, BTC closed at $116,576 on the 4-hour chart after testing highs of $116,772. The 9-period EMA sits at $116,607, keeping short-term momentum aligned with buyers. The 50-period SMA at $114,998 remains below price, signaling a broader recovery from the late July breakdown.
Bitcoin Dominance Breaks EMA-50 Support
Data from TradingView shows Bitcoin dominance (BTC.D) has slipped to 60.07%, losing the 50-week EMA at 60.85% for the first time since early 2023. This marks the third EMA retest since 2023, but the first clear break below it in over two years.
https://twitter.com/Zynweb3/status/1954098708724990411
Historically, similar breakdowns have aligned with periods of stronger altcoin performance. The drop follows a rejection from 62.21%, ending a 3-year uptrend in BTC dominance. Market rotation is evident as capital flows toward alternative cryptocurrencies.
Altcoin Market Cap Ratio Signals Possible Altseason
The altcoin market cap ratio, excluding the top 10 assets, has bounced from a multi-year trendline near 0.105000, based on data spanning 2016–2029. This structural level has triggered major Altseason rallies in 2017 and 2021.
Source: Laura Verse X
The ratio now stands at 0.125251, marking a +4.46% monthly gain. Previous rebounds from this zone have preceded multi-month altcoin outperformance. The channel structure remains intact, with the 2025 bounce showing similarities to prior cyclical turning points.
