BTC Dominance has broken down from the rising wedge pattern with significant volume, indicating potential bearish momentum. It is currently trading just above the Ichimoku Cloud, which is acting as a key support zone.
In the short term, we can expect a possible retest of the wedge pattern, which may lead to a temporary correction in the altcoin market. However, if BTC Dominance breaks below the Ichimoku Cloud, it would confirm further downside, potentially fueling a stronger rally in altcoins.
Keep in mind, BTC Dominance often moves inversely to the altcoin market cap—continued weakness here could favor altcoin performance.