BTC dominance on the 4-hour timeframe is trying to turn down for the third time in June. A stable downtrend according to our indicator, with targets up to 64.25%, but also - with already two potential low marks, so a bounce is expected in the coming days even if it later goes down.

Since the last review on May 26, Bitcoin dominance has continued to rise, although there were reasons to expect a decline. Among them, significant ones - there were potential high marks on the daily timeframe then. But the decline turned out to be very small, the metric was held from falling by the 50 EMA of the daily timeframe. Moreover, it has held Bitcoin dominance from falling 4 times since May 23. So breaking it down is very important for the growth of altcoins.

Since the end of May, dominance has been forming something like a 'Bearish Wedge', albeit with conditions. It is interesting that to work it out, the trend support from May 14 must be broken, which today falls right where the 50 EMA of the daily timeframe passes. We have a pool of supports around 64.07%.

The key point regarding trends is that since May 9, dominance has been in a downtrend on the daily timeframe. However, both targets have been reached, and it turned upwards from the 'Strong signal' potential low mark. At the same time, in the ascending structure, the price has constantly supported the level of potential breakdown of the downtrend since June, 64.75%.

What does the current picture on the daily timeframe remind you of? Highlighted on the chart - January of this year.

But with an important difference - at that time, there was a stable downtrend in December-January on the weekly timeframe. So now the situation is even less conducive to a correction of dominance. But there is a chance. There is no eternal growth, and bearish divergences do exist.

There are two questions that interest everyone right now:

1. Will there be a new maximum of Bitcoin dominance in this cycle?

2. If it happens - how much will altcoins fall because of it?

The answers are not as simple as they may seem; variations can be different. Bitcoin dominance can rise within a new bullish run of the asset, where altcoins will simply lag in capital gains. It can also rise against the backdrop of a general market decline if our expectations do not come true. And these are just two options; there are also different scenarios with a decline in dominance.

While we expect another, likely final in this cycle, bullish run for Bitcoin, we now fully allow for a new maximum of its dominance. BUT the new high may be small. Because the closer the final distribution of Bitcoin is - the more liquidity can be poured into altcoins. To ride the bullish run there too with money from Bitcoin profits.

For now, we are just observing. If there is a stable downtrend in dominance on the 3-day timeframe - it is likely that active growth of altcoins begins. If dominance returns to an uptrend on the daily timeframe - then at best, altcoins will be lagging in a new bullish run of the crypto market. In the worst case, dominance may rise against the overall market decline. But we do not expect such declines.

And the already traditional take on altseason - Globally, after the February dump, nothing changes for the altcoin market:

- everything above 61.69% - is likely very bad for altcoins (positive only if there is active growth in the entire market led by BTC),

- consolidation below 59.88% - we pop the champagne again (after the November rise),

- consolidation below 58.08% - we open/pour.

For the first time, we defined important levels manually; now we have our P73 Smart Liquidity Zones indicator for this. Let's see what it shows on the daily timeframe:

- 61.76% - indicated as the most important level right now,

- further 59.82%,

- further 58.85% and 58.04%.

Other levels to focus on - on the screenshot.

As can be seen - very close to those three levels defined during manual analysis. This is what the indicator is good for - it saves a lot of time and updates levels without your involvement.