Bitcoin prices are falling, while altcoins are beginning to show activity. Let's look into where this might lead.
Altcoin Surge Relies on Bitcoin’s Dominance
Altcoin bulls are noticing price increases while Bitcoin's dominance is on the decline. The BTC.D indicator tracks Bitcoin's share against other assets. Analyst Nuevo pointed out a deviation above the 61.55% red line, indicating a potential reversal.
Bitcoin Commentary
The short-term outlook for Bitcoin remains uncertain. The BTC price is nearing the $97,000 support level, which is unfavorable for altcoins. Analyst Daan Crypto Trades noted possible post-holiday market volatility.
What to Expect Next
Significant data releases, such as Fed minutes and employment figures, are anticipated to influence the market in the coming days.
The cryptocurrency market is in a state of uncertainty, and the upcoming week could be pivotal with the release of new economic data.
