Hello Crypto traders and investors, today we will talk about dominance in the Crypto market as we see some major changes with interesting developments.
Crypto market is trading at the lows and extreme levels, especially ALTcoins which suffered a massive drop, actually greater than Bitcoin. The main reason is that BTC. Dominance is waking up, while ALTcoin.Dominance is turning down. This is a major reversal in dominance at specific time, in the bear trend actually and that's why ALTcoins are suffering more.
If we take a look on BTC.D/OTHERS.D daily chart, which is actually a ratio chart between Bitcoin. dominance and altcoins. dominance, we can clearly see it trading impulsively higher away from the lows. In Elliott Wave theory, we can actually expect a five-wave bullish impulse, so seems like BTC will dominate in upcoming weeks/months.
Another chart that suggests and confirms stronger BTC compared to ALTcoins is also ETHBTC. As you can see, ETHBTC is coming down because of BTC dominance and from Elliott Wave perspective there's room for more weakness after recent A-B-C corrective flat pattern in wave (B)/(2). So, ETHBTC is now falling either for wave (C) or maybe even wave (3) with room at least down to 0.059 – 0.050 area, if not even lower.
Generally speaking, we believe that support in the Crypto market may not be far away and recovery may show up anytime soon. So, with rising BTC.dominance, we can expect Bitcoin to be first coin with a bullish reversal once Crypto market finds the support/bottom.
Get Full Access To Our Premium Analysis For 14 Days. Click here!
By using Wavetraders website, any services, products, and content contained here, you agree that use of our service is entirely at your own risk. You understand that there is a very high degree of risk involved in trading on the markets. We assume no responsibility or liability for your trading and investment results. The charts, and all articles published on www.wavetraders.com are provided for informational and educational purposes only!
By using the information and services of www.ew-forecast.com you assume full responsibility for any and all gains and losses, financial, emotional or otherwise, experienced, suffered or incurred by you.
Recommended Content
Editors’ Picks
XRP rally to $3 at risk as network activity and whale holdings drop
XRP's drop from recent highs of $2.65 on May 12 tests the 50-day EMA support as downside risks emerge. XRP faces declining network activity amid subdued daily active addresses.
Bitcoin open interest hits new all-time high, echoing pre-ATH rally setup
Bitcoin price stabilizes above $106,000 on Wednesday, just 3% shy of its all-time high at $109,588. BTC’s open interest hits a new all-time high of $75.14 billion, mirroring the setup of previous bullish cycles.
Monero rally in spotlight amid broader resurgence of interest in privacy-focused cryptocurrencies
Privacy-focused Monero is back in the spotlight, surging near 30% in May to $362. Monero's price increase reflects rising interest in privacy-focused crypto, driven by growing surveillance and regulatory scrutiny concerns.
Pepe Price Forecast: Bullish momentum builds as open interest, funding rate support rally hopes
PEPE price jumps over 5% on Wednesday after rebounding from a key support level the previous day. On-chain data shows rising open interest and a flip to positive funding rates, signaling strong bullish sentiment.
Bitcoin: BTC stabilizes near $103,000 amid trade optimism, rising institutional demand
Bitcoin (BTC) price stabilizes at around $103,000 when writing on Friday, after facing multiple rejections at the key $105,000 resistance level throughout the week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.