Reason to trust
Strict editorial policy which focuses on precision, relevance and impartiality
Created by industry experts and meticulously revised
The highest standards in the declaration and publishing
Strict editorial policy which focuses on precision, relevance and impartiality
Leo football price and a little soft players. Each Arcu Lorem, ultimate all children or, Ultlamcorper football hates.
Bitcoin has maintained its domination in the Altcoin market itself In the middle of current price corrections. The main cryptocurrency was in the spotlight throughout this market cycle, but a technical perspective suggests that it must yield. In particular, a crypto analyst known as Seth on the social media platform X indicated Bitcoin domination The relative force index (RSI) as a crucial factor that must change before bitcoin and the wider market can launch another step up.
Bitcoin Dominance RSI reaches a new level
Seth’s latest analysis, shared on The social media platform X highlights a critical observation concerning the domination of the Bitcoin market. He noted that the monthly domination of Bitcoin RSI recently increased to 70, A level that has never been reached before in the history of Bitcoin. Although this may seem a bullish signal at first glance, the analyst suggests the opposite, warning that the dominance RSI must cool for the final phase of the Bull Run. This perspective occurs while the cryptography market has a slowdown, let investors question When the next bullish wave begins.
Related reading
RSI, or relative force index, follows the speed and variation in price movements and is used to identify the conditions of over -rachat or occurrence. With Bitcoin RSI domination at such an extreme level, even with the recent decrease in prices, this suggests that BTC control on the market is at an unsustainable peak, which could slow the wider market rally.
According to Seth, these who fails to grasp This concept does not understand the fundamental mechanics of financial markets, because this principle applies beyond the simple Bitcoin and Altcoins. Given this, the healthiest path would be a reduction in the domination of Bitcoin in the coming weeks, the analyst projecting a fall at 44% of domination.
Why the decline of RSI domination of BTC counts
A decrease in RSI domination of Bitcoin would mean that the market moves to more balanced conditions, allowing capital to circulate in altcoins and to raise their prices. Throughout past bull cyclesIn particular in 2021, the rise of Bitcoin power to a peak has often been followed by an increase in investments in Altcoin, triggering generalized rallies across the market.
Related reading
This scheme has historically marked the final phase of a Bull Run, where capital moves away from Bitcoin and in Altcoins with a higher potential of short -term gains. Until Bitcoin’s domination cools, The Altcoin sector may find it difficult to gain momentum and continue to derail the final phase of the BTC Bull Run.
At the time of writing this document, BTC is negotiated at $ 81,500, reflecting a 2.5% drop in the last 24 hours. Coinmarketcap market data indicates that Bitcoin domination is currently 61.0%, which increased by 0.65% over the same period. This growing domination suggests that capital remains concentrated in the BTC.
Felash star image, tradingView.com graphic