💰 #BTC dominance is coming in for a landing. But what about altcoins?
On the weekly timeframe, the first cryptocurrency’s dominance was moving in a kind of bearish wedge 🐻, with the price squeezed between two ascending trendlines.
Right now, the trendline support has been broken to the downside and dominance is falling. But are alts actually pumping?
Usually, we don’t see a crazy altcoin market pump. The decline in dominance is mostly due to the growth of #ETH 🔷.
✅ It’s quite possible that this situation will continue until the end of the cycle. That is, dominance will decrease, but the main driver will be the rise of leading altcoins (basically from the top 10).
