🔥 Mini Alt-Season Ahead Or Just Bitcoin?
Ever since the start of the year, BTC.D has been rising steadily. However, since June BTC dominance has been on a very step decline. This means that BTC has been relatively underperforming alts by quite a lot.
The cause of this is yet to be determined, but in my view it has to do with the fact that big investors already sold off all their alts (most were -90% to -95% down from the top), so BTC was the only thing they had left to sell.
Anyhow, BTC.D is currently sitting at a support level which has been holding since 2022. If we break down this could indicate further BTC weakness, and potentially kick-off a new mini alt-season. Be aware we're still in a bearish environment, so every rally we get will most likely be a dead cat bounce.
If BTC.D bounces off the support we can see BTC perform better than alts, this is typically the case for a risk-off environment.
The cause of this is yet to be determined, but in my view it has to do with the fact that big investors already sold off all their alts (most were -90% to -95% down from the top), so BTC was the only thing they had left to sell.
Anyhow, BTC.D is currently sitting at a support level which has been holding since 2022. If we break down this could indicate further BTC weakness, and potentially kick-off a new mini alt-season. Be aware we're still in a bearish environment, so every rally we get will most likely be a dead cat bounce.
If BTC.D bounces off the support we can see BTC perform better than alts, this is typically the case for a risk-off environment.
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