Bitcoin Dominance ($BTC.D) shows bearish divergence on both daily and weekly RSI charts.
BTC trades within a narrow range between $108,077 support and $109,574 resistance amid dominance uncertainty.
Bitcoin Dominance total supply stands at 8.53M BTCD, with 1.03M circulating, highlighting notable supply dynamics.
Bitcoin Dominance ($BTC.D) may be approaching a significant decline following a prolonged uptrend, according to recent weekly chart data. The latest candles show $BTC.D failing to break resistance near the 65% level. At the same time, bearish divergence is evident on both the weekly and daily Relative Strength Index (RSI), highlighting a potential reversal.
During this period, Bitcoin itself trades within a tight range. The current BTC price stands at $108,621, reflecting a mild 0.5% daily increase. Price action shows support near $108,077, with resistance forming around $109,574. These levels remain critical as the broader market watches for confirmation of the next directional move.
Notably, the total supply of Bitcoin Dominance tokens sits at 8.53 million. Circulating supply is considerably lower, around 1.03 million BTCD, according to latest figures. This gap between total and circulating supply adds another dynamic to the market's interpretation of dominance trends.
Weekly and Daily Bearish Divergences Emerge Across Key Bitcoin Dominance Indicators
Technical indicators now point to clear divergences across multiple timeframes. Weekly RSI levels have flattened, even as price action pushed higher during the past sessions. Similarly, daily RSI metrics display lower highs, contrasting with price attempts toward the 65% dominance zone.
This mismatch suggests underlying weakness in momentum, even if prices have not yet confirmed a downtrend. However, price remains within the upper resistance area, creating a key inflection zone. Any decisive movement below the highlighted support zone could accelerate downside risk for Bitcoin dominance.
Bitcoin’s own price stability offers little clarity, hovering between $108,077 and $109,574. This narrow trading range reflects broader uncertainty while market participants observe dominance and price correlations.
Bitcoin Price Holds Steady as Market Awaits Dominance Confirmation
While Bitcoin Dominance weakens, Bitcoin price action has stabilized above support. The current $108,621 level shows resilience but remains range-bound. Despite minimal daily change, traders closely watch for volatility around the $108,077 support level.
If Bitcoin dominance begins a downward shift, capital rotation into altcoins could follow, although confirmation has yet to occur. At present, $BTC.D remains capped by resistance while Bitcoin itself trades below its near-term ceiling of $109,574.
Notably, the divergence between price and RSI on the $BTC.D chart may shape short-term market direction. Traders continue monitoring this development on both daily and weekly timeframes.
The post $BTC.D Charts Flash Potential Breakdown as Bitcoin Holds $108K: Altcoins Watch for a Shift appears on Coin Futura. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
