Bitcoin Dominance is Falling Apart While Altcoins Thrive; What Does This Mean for the BTC Price?

Coinpedia
Coinpedia

30 Jun 2023 3:20 PM

The crypto space has triggered a fresh bullish move! The Bitcoin price continues to hover around the crucial resistance level of $30,800, manifesting the...

  • Bitcoin price is hovering around the resistance level of $30,800, indicating a potential bullish close for the month.
  • Bitcoin dominance is decreasing, while altcoins are experiencing an upswing, suggesting a shift in trending patterns and a possible Altseason.
  • BTC dominance has risen from 47.28% to 52.19%, reaching levels last seen in May 2021.
  • Altcoins are displaying bullish momentum, but the total market cap (excluding Bitcoin) is showing bearish signals.
  • Altcoin market cap has dropped below crucial support, with attempts to recover but facing resistance at the lower trend line.
  • No confirmation of a bullish divergence yet, but bears are present, potentially limiting the altcoins' bullish momentum.

The sentiment of the article is mixed, with a focus on the potential bullishness of Bitcoin and altcoins, but also highlighting bearish signals in the altcoin market cap.

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What is the current Bitcoin price and its relation to the resistance level?How has Bitcoin dominance changed in recent months?What is the trend in altcoin market cap and its relation to Bitcoin?Are there any indications of a bullish or bearish divergence in the altcoin market?Note: The analysis provided is based solely on the given input article and may not reflect the complete or up-to-date information on the topic.

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