Cryptocurrency markets are undergoing changes following recent corrections, boosting Bitcoin's dominance and weakening altcoins.
Bitcoin's Dominance Pressure on Altcoins
Founders of the analytics firm Glassnode, Jan Happel and Yann Allemann, noted Bitcoin's dominance rising to 59%. This strengthens Bitcoin's position in the crypto market, while altcoins are losing their support levels, putting them at risk.
Trends Among Bitcoin Holders
Glassnode's analysts report changes in Bitcoin holders' behaviors. Long-term holders are beginning to sell their assets, short-term investors are becoming active, and whales continue accumulating.
The Future of Altcoins
Experts believe that for altcoins to recover, Bitcoin must establish stable price movements. The end of the altcoin season is expected to lead traders to revise their risk management strategies.
Bitcoin's leading position continues to shape overall trends in cryptocurrency markets, necessitating a revision of risk management strategies by traders.
