The weakening of Bitcoin's dominance (BTC) could be a sign that the final stage of the bullish cycle is approaching. Below are some important pieces of information related to this phenomenon:
• Strong decrease forecast for dominance rate: Renowned market expert Henrik Zeberg predicts that Bitcoin's dominance rate could sharply decline to 24-30%, marking the final stage of the current bullish cycle in the cryptocurrency market.
• Elliott wave model: Zeberg explains that the Elliott wave model shows Bitcoin is in the final stage of an expanding corrective structure, signaling a shift in cash flow to altcoins.
• Cash flow into altcoins: If Zeberg's model is correct, cash will flow strongly into altcoins; this will be the final but most brilliant stage of the bull market.
• Last opportunity for investors: This could be the last opportunity for investors to take advantage of the altcoin's upward momentum before the market cools down. Traders may consider diversifying their portfolios and gradually reducing their Bitcoin holdings in the coming time.
Several factors to consider when assessing Bitcoin's dominance:
• Current Bitcoin price: Bitcoin is currently holding quite steady at $118,223 with a total market capitalization of $2.35 trillion.
• Impact on the market: The weakening of Bitcoin could lead to the growth of altcoins, creating opportunities for investors.