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Bitcoin’s Grip on the Market Weakens, Altcoins Take Off – But There’s a Catch Beincrypto 01 жов 2024

Bitcoin’s Grip on the Market Weakens, Altcoins Take Off – But There’s a Catch 📉

Bitcoin's dominance in the market has decreased by 2% after peaking at a two-year high, while altcoins’ combined market capitalization has surged, indicating a shift in investor interest.

Despite the increase, TOTAL2 has seen a steady decline, with momentum indicators such as MACD showing a decrease in buying pressure over recent days.

The slowing market activity stems from traders waiting for a significant catalyst to trigger a bullish trend in the final quarter of the year.

Elder-Ray Index bars, though green, have diminished in size, suggesting weakening strength from the bulls in the market.

The Parabolic Stop and Reverse indicator flipped, indicating a potential downtrend.

According to Blockchain Center's data, fewer than 75% of the top 50 altcoins have outperformed Bitcoin in the last 90 days, indicating that the altcoin season hasn’t fully commenced yet.

Джерело: beincrypto.com ↗

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