Bitcoin Has ‘One Final Leg’ of Outperformance Before Altcoins See Boost, According to Crypto Analyst
A closely followed crypto analyst says that Bitcoin may have one last breakout rally before altcoins start to outperform BTC. The pseudonymous analyst known as Rekt Capital tells his 546,300 followers on the social media platform X that the Bitcoin dominance (BTC.D) metric may soon peak, opening the doors for altcoins to ignite explosive moves to the upside. BTC.D calculates how much of the crypto market cap belongs to BTC. A peaking Bitcoin dominance chart suggests that altcoins are close to outshining BTC. “Bitcoin dominance has one final leg left in its macro uptrend on the road to 71% (red). Any dips into 64% would constitute a retest. A successful retest would enable final trend continuation on the road to 71% (green box).” Source: Rekt Capital/X At time of writing, Bitcoin dominance currently stands at 64.82%. Next up, the analyst says that Bitcoin needs to hold a key support level at $93,500 on the weekly chart to maintain bullish momentum. ...