Bitcoin Dominance Decline Suggests Continued Crypto Bull Run – Analyst

The crypto market has seen a significant decrease, with a total market cap drop of over 18% in the last month, led by Bitcoin. Despite this correction, Bitcoin Dominance (BTC.D) data challenges the narrative of a market top.

Bearish Bitcoin Dominance, Bullish Market Outlook

Market analyst Colin Talks Crypto links BTC.D trends to altcoin and Bitcoin bull run peaks.
Matthew Hyland notes a bearish trend in BTC.D, suggesting potential for broad cryptocurrency gains if BTC.D capitulates.
Colin Talks Crypto suggests a fall in BTC.D below 49% often indicates a Bitcoin cycle top, leading to potential altcoin profits.
Currently, BTC.D is around 61%, indicating room for further Bitcoin price growth before a market peak.

Bitcoin Market Overview

Bitcoin trades at $102,283, with a slight daily price loss of 0.07% and trading volume increase of 25.29%, totaling $85.58 billion.
No euphoric sentiment was observed when Bitcoin reached its all-time high of ~$126,000, typically seen at cycle peaks.
The anticipated end of US Federal Reserve’s quantitative tightening by December 1st could act as a bullish catalyst.
Potential reopening of the US government between mid-November and early December may support the final phase of the bull run.