COINOTAG News reports on April 22nd that, as per TradingView metrics, Bitcoin’s dominance has climbed to an impressive 64.61%, marking the highest level since February 2021. This surge in Bitcoin dominance highlights a relative stagnation in the altcoin market, yet it may also signal an impending bottom reversal. Analyzing historical trends, previous instances where Bitcoin’s dominance exceeded 60% in November 2022 correlated with a brief altcoin rally. The patterns observed in both 2019 and 2021 demonstrate that when Bitcoin’s market share surpassed 70%, it often triggered a wider and more robust bull market. Investors and analysts alike should monitor this trend closely, as it may provide critical insights into future market dynamics and potential opportunities within the cryptocurrency landscape.
Source: https://en.coinotag.com/breakingnews/bitcoin-dominance-hits-64-61-signs-of-a-potential-altcoin-bull-run-on-the-horizon/
