Bitcoin Dominance Rises as Institutional Investors Accumulate More BTC
Crypto investors are currently observing a notable absence of an altcoin season, with Bitcoin's dominance impacting weaker altcoins. Analysts suggest patience as on-chain signals indicate a potential shift.
Bitcoin Dominance and Institutional Interest
- Public companies have acquired more BTC than ETFs for three consecutive quarters, indicating rising institutional confidence.
- Bitcoin Dominance (BTC.D) is increasing as corporate involvement grows, contrasting with retail-heavy altcoins.
- This trend may lead to more retail investment in crypto, including riskier altcoins.
Whale Activity Indicates Potential Market Shift
- Analyst Kripto Mevsimi reports that June saw new whales realize over $641 million in profits while taking $1.24 billion in losses.
- This dual behavior suggests a significant shift in the Bitcoin market.
- Older whales maintained defensive positions, which historically aligns with local market bottoms.
- The timing coincided with H1 institutional rebalancing, hinting at a transition phase for Bitcoin.
Altcoin Technicals and Market Setup
- The Crypto Total Market Cap Excluding BTC (TOTAL2) is around $1.12 trillion, near a critical Fibonacci retracement level (~$1.17 trillion).
- A reclaim of this level may signal an upcoming altcoin rally.
- Current indicators show accumulation rather than breakout, suggesting a calm period before volatility.
- If TOTAL2 surpasses the 0.618 level, subsequent targets include $1.39 trillion and $1.63 trillion for mid-cycle expansions.
TOTAL2 Chart with BoP, MACD Indicators | Source: TradingView