Bitcoin dominance dips to 63.39%, opening the door for altcoins to rise in market share.
Analyst predicts the start of “Altcoin Season” with growing interest in altcoins.
Altcoins are expected to see increased trading volumes and volatility in the coming weeks.
The cryptocurrency market is undergoing a significant change as Bitcoin’s dominance continues its downward trend, creating room for a potential altcoin rally. Bitcoin’s market share, which previously held above 65%, dropped to 63.39%, indicating dynamic changes in the market. This drop in Bitcoin dominance created a space for the altcoins to pick up momentum, attracting investor interest.
According to analyst Crypto Rover, the onset of “Altcoin Season” implies a possible change in the pace of trading from Bitcoin and Ethereum to a broader assortment of altcoins like Solana, Cardano, and Avalanche that can get new opportunities. Earlier, while altcoins gained momentum, the volatility in the crypto market increased, particularly among mid- and small-cap cryptocurrencies, opening a window for swing traders and momentum investors.
Ethereum’s Demand Zone
As of press time, the ETH to…
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