The attached image represents the OTHERS.D index, which reflects the dominance of altcoins in the market excluding Bitcoin and Ethereum. This index is used to evaluate the performance of altcoins separately, allowing for a deeper understanding of market movements and trends.

Daily analysis:

  1. Last move:

    • The index indicates a decrease of -6.83%, reflecting a decline in the dominance of altcoins.

    • The current level is at 10.47%, with a notable trading volume of $3.08 trillion, indicating significant market activity.

  2. Key points:

    • Daily High: 11.25%, indicating that altcoins are trying to gain dominance.

    • Daily low: 9.47%, reflecting sharp volatility in altcoins.

Weekly Analysis:

  1. General trend:

    • Over the past week, the market has seen significant volatility between 9.47% and 11.25%.

    • The trend was generally bearish, with altcoins losing some of their dominance to Bitcoin and Ethereum.

  2. Historical movement:

    • The lowest level during this period was at 7.80% (earlier), reflecting a significant decline in dominance over the past year.

    • The highest level reached 17.83%, indicating previous boom periods for altcoins.

Influencing factors:

  1. Liquidity:

    • Decreased liquidity in the alternative market as investors shift their liquidity to Bitcoin, which is a safe haven during periods of volatility.

  2. Economic events:

    • Global events and fluctuations in the traditional market have affected the dominance of altcoins.

    • There may be news about certain projects that have affected investor confidence in altcoins.

Expected trend:

  1. Uptrend:

    • If investor confidence in new projects increases, we may see a gradual rise in altcoin dominance.

    • The index exceeding the 12% level may represent the beginning of an upward trend.

  2. Downward trend:

    • If liquidity continues to shift towards Bitcoin and Ethereum, the index could drop to 9% levels and possibly lower.

    • A break of the 7.80% level could mean a new collapse in the performance of altcoins.

Recommendations:

  1. Investors:

    • Investors should focus on projects with real value and high confidence.

    • Follow market news and index movement to determine entry and exit points.

  2. Traders:

    • Focus on short term trading due to high volatility.

    • Use technical analysis tools to identify critical levels of the indicator.

The altcoin market remains sensitive to volatility and economic events. Based on the analysis, there are signs that the current confidence is weakening, but there is a possibility of a recovery if alternative projects support the market momentum.


$$BTC