$BTC.D Near 60% - Cue Altseason?
Bitcoin Dominance continues to rip nearing its target of 60%
You can see the 2 major trendlines about to converge, similar to what we saw in March 2020 which was followed by more rate cuts.
We could expect
BTC.D to break trend, and fall under the 50WMA, cueing a short-term Alt season, and then Bitcoin stealing the show again with more institutional buying on the horizon.
This could bring one last shakeout to the Altcoin market, before BTC.D completely falls off a cliff and the entire market goes parabolic.
You can see the 2 major trendlines about to converge, similar to what we saw in March 2020 which was followed by more rate cuts.
We could expect
BTC.D to break trend, and fall under the 50WMA, cueing a short-term Alt season, and then Bitcoin stealing the show again with more institutional buying on the horizon.This could bring one last shakeout to the Altcoin market, before BTC.D completely falls off a cliff and the entire market goes parabolic.
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