The term "BTCD" refers to Bitcoin Dominance – a metric that measures Bitcoin’s market capitalisation as a percentage of the total cryptocurrency market. It gives insight into whether investors are favouring Bitcoin over altcoins.
When we mention a "trendline bottom", we're referring to a key support level on the dominance chart that has historically prevented BTCD from falling further. If BTCD is now touching or bouncing from this trendline, it may indicate a potential reversal or resurgence of Bitcoin dominance.
Why This Matters:
Support Level: If the trendline has acted as a bottom several times in the past, a bounce here could signal renewed strength in Bitcoin compared to altcoins.
Rotation Signal: A BTCD bottom often precedes a capital rotation from altcoins back into Bitcoin, suggesting that BTC may outperform altcoins in the short to mid-term.
Macro Sentiment: A strong BTCD trendline can reflect investor caution – moving into Bitcoin as a "safer" crypto during uncertain times.
When we mention a "trendline bottom", we're referring to a key support level on the dominance chart that has historically prevented BTCD from falling further. If BTCD is now touching or bouncing from this trendline, it may indicate a potential reversal or resurgence of Bitcoin dominance.
Why This Matters:
Support Level: If the trendline has acted as a bottom several times in the past, a bounce here could signal renewed strength in Bitcoin compared to altcoins.
Rotation Signal: A BTCD bottom often precedes a capital rotation from altcoins back into Bitcoin, suggesting that BTC may outperform altcoins in the short to mid-term.
Macro Sentiment: A strong BTCD trendline can reflect investor caution – moving into Bitcoin as a "safer" crypto during uncertain times.
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.
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.