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.
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