BTC Dominance Update

$BTC Dominance has slipped below its previous ascending channel, accompanied by notable trading volume. The 50-day moving average (50MA) is now acting as a resistance above the current price level, limiting upward momentum. Indicators suggest that further downside movement could be imminent.

Traders should remember that BTC Dominance frequently moves inversely to the total altcoin market cap. As dominance declines, altcoins often gain strength, signaling potential opportunities in the broader crypto market. Monitoring this metric can help gauge when altcoins may outperform Bitcoin in the near term.