On May 24, 2025, the cryptocurrency market continues to attract attention with significant fluctuations in the Bitcoin Dominance (BTC.D) index. Based on the provided chart, we can see a clear overview of the current trend and important factors affecting the market.
Current Situation
According to the latest data, the BTC.D index is currently at 64.15%, slightly up +0.04% (+0.05%) compared to the previous time. This indicates that Bitcoin is still maintaining its dominant position in the total cryptocurrency market capitalization, with the total market capitalization reaching 9.247 trillion USD. Meanwhile, a notable point is that the market capitalization of Bitcoin (BTC) currently stands at 2.251 trillion USD, creating a 'delta' (gap) with the total market capitalization of 354.57 billion USD. This gap reflects the capital allocation between Bitcoin and other altcoins.
Recent Trends
The chart shows that BTC.D has undergone a period of volatility in the last 4 hours (4H), with important support and resistance levels marked. The nearest resistance level is around 65.10%, while the important support level can be identified around 63.10% - 63.50%. Recent fluctuations, especially at the time of 01:26:33, indicate that short-term selling pressure has emerged, pushing the index below the average.
The moving averages (MA) on the chart also provide additional information. The short-term MA (green) is crossing the long-term MA (red) at the current price range, implying a consolidation phase before potentially forming a new trend. The pink and light green areas on the chart represent accumulation and distribution zones, indicating that investors are cautious in making decisions.
Analysis and Forecast
Positive signal: The fact that BTC.D remains above 64% indicates that Bitcoin is still the 'king' of the market, especially as the total market capitalization increases. This could be a sign of a bullish trend if BTC continues to attract capital flows.
Potential risks: If the index falls below the support level of 63.10%, it could lead to a capital shift towards altcoins, especially in the context of the market being in a high volatility phase.
Recommendation
For traders, closely monitoring the 63.10% - 65.10% range will be key to determining the next direction of BTC.D. If you are a long-term investor, holding Bitcoin in the portfolio remains a safe strategy in the current context. However, consider allocating some capital to potential altcoins if a reversal signal appears.
Continue to stay updated and follow the next updates from Binance to make informed decisions. Wishing you successful trading!
Note: The analysis is based on data at 09:34 PM +07, May 24, 2025. The cryptocurrency market is rapidly changing, please do your own research and manage risks before trading. #DolugCrypto