$BTC

Bitcoin Analysis

Bitcoin dominance has decreased from a large-volume ascending wedge pattern, indicating potential weakness. It is currently trading within the Ichimoku cloud, which represents a major support area.

Any clear breakdown below the cloud will signal further decline in dominance. This may trigger a new upward wave in the altcoin market - keep a close watch on the situation to confirm this.

It is important to note that dominance is often inversely related to the market capitalization of altcoins.