Will Bitcoin Jump Once More Before Altcoin Rally? Dominance 71% Resistance Notice

The Bitcoin market is suggested to have the potential for a final surge before the Altcoin season begins in earnest. Cryptocurrency analyst Rekt Capital, who has approximately 546,000 followers, analyzed, “On the BTC dominance (market cap share) monthly chart, there is a clear resistance at the 71% level. If BTC dominance falls to 64%, the support of the upward trend line will be retested. If support is maintained during the retest, BTC dominance can rise to 71%. Once BTC dominance hits a peak and starts to drop, the Alt season may begin.”

According to his diagnosis, there is room for Bitcoin prices to rise significantly once more in the process of Bitcoin dominance soaring near 71%. On the other hand, if dominance turns to decline without overcoming this level, the market leadership is likely to shift from Bitcoin to Altcoins. Investors are watching the 64% support test and 71% resistance breakthrough as key variables to gauge the starting point of the Alt season.