Digital Coin News

Bitcoin: BTC dominance falls to 56%: Time for altcoins to shine?

  • 📰 CryptoAmb
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 68%

Coin Coin Headlines News

Coin Coin Latest News,Coin Coin Headlines

The resistance faced by Bitcoin [BTC] at the $70,000 price level has led to a steady decline in its market dominance.

The decline in Bitcoin’s dominance suggests a shift toward altcoins, which may lead to a surge in their values.BTC dominance refers to the coin’s market capitalization compared to the total market capitalization of all cryptocurrencies. Simply put, it tracks BTC’s share of the entire crypto market.Generally, when BTC’s dominance falls, it opens up opportunities for altcoins to gain traction and potentially outperform the leading crypto asset.

Readings from BTC’s Parabolic SAR indicator confirmed the ongoing price decline. At press time, it rested above the coin’s price, and they have been so positioned since the 10th of June.The Parabolic SAR indicator is used to identify potential trend direction and reversals. When its dotted lines are placed above an asset’s price, the market is said to be in a decline.Abiodun is a full-time journalist working with AMBCrypto. He is also a lawyer with over 2 years of experience.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 22. in COİN

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin Rainbow Chart tells you that NOW is the time to buy BTCInvestors’ confidence in Bitcoin [BTC] has somewhat dwindled as the king of crypto fails to go above $69k.
Source: CryptoAmb - 🏆 22. / 68 Read more »

$500K Bitcoin forecast: Analyst maps out BTC’s bull run timelineBitcoin [BTC] continues to hold the spotlight, especially following the recent market consolidations.
Source: CryptoAmb - 🏆 22. / 68 Read more »

Bitcoin on the brink: Could we see a soar to $79K soon?Bitcoin [BTC] remains at the forefront of many discussions and analyses.
Source: CryptoAmb - 🏆 22. / 68 Read more »

Bitcoin volatile but overall flat near $66k, Binance CEO sees $80k BTC by year-endThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Bitcoin ETF: Australia to launch first BTC ETF with VanEckAustralian investors will get more BTC investment options as ASX plans to list VanEck products on 20 June.
Source: CryptoAmb - 🏆 22. / 68 Read more »

Bitcoin whales load up as BTC stays still at $66k: What’s their strategy?Large wallets continued accumulating BTC despite stagnant prices. Will the price of Bitcoin continue to see green in the future?
Source: CryptoAmb - 🏆 22. / 68 Read more »