BTC.D Bitcoin dominance (BTC.D) is pressing right into a massive multi-year trendline that has capped it since 2018. We have seen higher lows building since 2022, tightening this squeeze even more. Now it is decision time.The fundamentals might just tip the scales.
David Sacks says July could be a huge month for crypto. Bakkt is lining up a 1 billion dollar shelf offering that could directly buy BTC. Meanwhile US regulators are pushing hard to finalize crypto market structure rules by September. On top of that, ETFs and big institutional players keep funneling money primarily into Bitcoin, not altcoins.
All this is fueling the case for a breakout in BTC dominance. If it happens, Bitcoin will likely outperform the rest of the market for a while, pulling more of the crypto share back into its hands.
If the chart rejects, we might see altcoins catch some wind and take the spotlight for a bit. But right now with this macro pressure building, the odds seem to favor Bitcoin leading the next leg.
Keep an eye on this chart. A clean breakout above the trendline could set the stage for a very Bitcoin-heavy next few months.
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.