news 
Title: Is Altseason Coming? Bitcoin Dominance Will Go Down
As we dive into the current market trends, there are several signs indicating a possible shift in the crypto landscape. With Bitcoin (BTC) holding onto the crucial $65K support level and miners and short-term holders showing signs of allocation, it’s essential to examine whether this could be an early sign of an altcoin season.
The significance of reaching $65K lies in its potential impact on market movements. While it may seem like a straightforward upward momentum, the recent price swings suggest that the market might be looking for new opportunities. The increasing tension around Bitcoin’s stability has led to speculation about where money is likely to flow next.
One crucial indicator that could hint at an altcoin rally later this year comes from Bitcoin’s dominance, which has been steadily growing since mid-March. However, it recently dipped below 64%, mirroring a pattern seen in the past. This slowing momentum may signify that Bitcoin’s market power is waning, granting other cryptocurrencies the chance to gain traction.
As we analyze recent data, we can see that miners and short-term holders are indeed sharing their assets at this critical moment, while long-term holders continue to hold steady. The market sentiment zones have placed Bitcoin in a “worry” to “expectation” range – an area historically associated with asset redistribution. Short-term holders’ selling and the failure of LTHs to start accumulating once more could be indicative that profit-taking and potential altcoin investments are on the horizon.
It’s also important to note that while no clear buy signal has been triggered, neither have any sell signals. This ambiguity leaves room for speculation on the direction of money movement in the short-term. If BTC dominance continues to drop as investors become less confident in Bitcoin’s price stability, a capital shift toward altcoins could be imminent.
For now, it’s difficult to predict whether we’re entering an altcoin season or simply experiencing a minor correction within the larger crypto cycle. Nonetheless, as the market sentiment shifts and uncertainty grows, we must consider all possible scenarios.
Source: https://bitcoinik.com/is-altseason-coming-bitcoin-dominance-will-go-down/
