Bitcoin Dominance at a Critical Level: Altcoins Poised for a Break

Bitcoin has just crossed a major psychological threshold by surpassing 64% dominance in the crypto market. This steady progression over several weeks now places the queen of cryptos in a zone of historic resistance. 

Bitcoin dominance reaches 64%

Bitcoin crossed this week 64.2% dominance in the crypto market, a level that marks a crucial turning point. This continuous progression over several months places the leading crypto in an unprecedented position of strength against its competitors, notably Ethereum .

Crypto analyst Astronomer observes that this 64% zone acts as a true technical ceiling. His analysis reveals that bitcoin is now struggling to continue its rise. Last May, several attempts to surpass this level had already failed.

Technical signals show a clear slowdown in momentum. Despite bitcoin’s recent historic highs, its dominance seems to stall. Trading volumes are declining and investors hesitate to continue migrating towards the queen of cryptos.

This situation recalls that of May, when dominance bounced above 63.5% before quickly falling again. This repetition of technical behaviors reinforces the hypothesis of an imminent reversal.

The dawn of a new era for altcoins

Technical analyses point towards a reversal in the coming weeks. Bitcoin dominance could drop back to 63%, finally creating the long-awaited opportunity for other cryptocurrencies.

This rotation benefits from a favorable context. China has recently injected massive liquidity into global markets. This capital could turn to altcoins once bitcoin dominance stabilizes.

Ethereum already shows signs of awakening with a 2.01% gain in 24 hours, reaching 9.4% dominance. Solana and Dogecoin are also among the favored candidates to benefit from this rebalancing.

Established cryptos like XRP , Cardano, and Chainlink could also stand out. These mature projects have survived several cycles and have the strength needed to attract investors.

Bitcoin currently hovers around 63.5%, a critical level. Maintaining above 64% at the end of the month would delay the emergence of an altcoin season. Conversely, a drop would likely trigger a massive redistribution towards alternative cryptocurrencies.

In short, bitcoin’s 64% dominance marks a decisive turning point that could redefine the balances of the crypto market. Technical signals converge towards an imminent reversal, potentially opening the way for a much-anticipated altcoin season awaited by investors.