Bitcoin Dominance Drop Below 60% as Altseason Surge
Bitcoin dominance don drop below di key 60% market share mark for di first time since January, e low reach about 59.2% as Ethereum rally dey go. Analysts for Bull Theory and Dan Gambardello talk say weekly chart weak and e break below long-term support, dem dey predict say e fit drop reach 45% inside six months—fit trigger big “mega altseason” as traders dey shift capital go altcoins. Social trading sentiment for altcoins strong, but altseason indexes no too dey join: CoinMarketCap still dey 37/100, Blockchain Center don rise reach 53. Bitcoin price steady for near $119,350, but Ethereum dey lead gains—up over 8% reach $4,670, near im 2021 high. Other big altcoins dey rally too: SOL +12% reach $200, ADA +9% reach $0.86, LINK +13% reach $24.50, and LTC +11% reach $133. Traders go dey watch these technical indicators and price moves well to see if dis drop for Bitcoin dominance mean say na long-term shift go altcoins or na short correction.
Bearish
Di drop wey fall below 60% for Bitcoin dominance mean say traders dey waka their capital move enter altcoins, e reduce buying pressure for Bitcoin. When you put am together with technical weakness for weekly charts plus say dem dey expect say e go continue drop reach 45%, e mean say fit get downside for BTC for short and long term. Even though Bitcoin price dey hold near $119,350, the rising altseason momentum and how altcoin trading volume dey grow fit block BTC from getting more gains and e fit make BTC perform less compare to others, e mean say outlook for Bitcoin na bearish one.