Bitcoin Dominance Breaking Out
Bitcoin dominance has broken above a descending trendline, currently sitting at 59.03%. This breakout suggests Bitcoin is beginning to absorb more market liquidity, a pattern often accompanied by altcoin underperformance. The next resistance lies near 59.92%, and a continuation above this level would confirm Bitcoin's growing market share. On the flip side, the breakout trendline near 58.5% now serves as immediate support. This shift in dominance reinforces Bitcoin's leading role in the market at the moment.
This is noteworthy considering the amount of liquidity that was sucked in the TRUMP vortex. Altcoins are extra rekt for the moment.
This is noteworthy considering the amount of liquidity that was sucked in the TRUMP vortex. Altcoins are extra rekt for the moment.
scott.melker@texaswestcapital.com
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scott.melker@texaswestcapital.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.