Bitcoin Dominance Analysis (04/08)

📌Current Situation:

Bitcoin dominance is currently moving within the resistance range of 62.29% – 61.44%, after failing to hold above it, which enhances the likelihood of a retreat back toward the next support area between 59.88% – 59.57%.

This scenario is positive for alternative cryptocurrencies.

📌If it holds above 62.29%:

We may witness a new upward attempt to test the next resistance area at 64.00%, which could temporarily weaken the movement of alternative cryptocurrencies if Bitcoin continues to dominate the market.