Crypto Market Cap Holds Above $3 Trillion Amid Bitcoin Dominance
The total crypto market cap remains above $3 trillion, with Bitcoin dominance exceeding 60% and the altcoin market cap at $1.12 trillion. This situation has led to speculation about a potential altcoin season, influenced by upcoming regulatory changes and new ETF approvals.
Technical Insights
- Recent analysis indicates a bearish divergence in Bitcoin's dominance weekly chart, suggesting a possible decline in Bitcoin dominance.
- This decline could trigger an altcoin rally as indicated by technical signals from traders like Titan of Crypto and Carl Moon.
- Current Bitcoin dominance stands near 61.38%, with expectations for a breakdown that could lead to price increases in altcoins.
Historical Data
- Historical trends show that significant movements in Bitcoin often precede altcoin surges.
- Past cycles indicate that Bitcoin outperformance typically leads to subsequent altcoin seasons.
- The current cycle differs due to increased altcoin creation leading to market dilution.