BTC News: Bitcoin Dominance Soars to 4-Year Peak: Top 5 Things to Watch This Week

Bitcoin’s dominance in the cryptocurrency market has surged to a 4-year high, with altcoins underperforming and 24-hour liquidations reaching a staggering $2.29 billion. Despite the current market turmoil, analysts are noting patterns reminiscent of previous altcoin rallies, sparking hopes that an “altseason” may be on the horizon.

Bitcoin dominance hits 4-year high as altcoins underperform, but analysts see signs of a potential altcoin rally. Liquidations reach $2.29 billion amid market turmoil.

Market Correction Hits Bitcoin and Altcoins Hard

The cryptocurrency market has faced a massive correction, with Bitcoin down 4-5% and altcoins crashing by a greater magnitude. Ethereum (ETH), XRP, Solana (SOL), and BNB Coin (BNB) have each seen a 10-15% drop, pushing Bitcoin dominance to new heights. The Coinglass data shows that 24-hour crypto market liquidations have soared to $2.29 billion, with long liquidations crossing more than $1.91 billion.

According to Roman Trading, a popular crypto market analyst, “Wild times in this range. I won’t lie, I didn’t expect to see lower 90s again, but here we are. Bull divs, Stoch Reset, & sitting in range low support area. Would make sense to see us bounce here soon.” Roman joins the growing chorus of analysts expressing optimism that Bitcoin could stabilize and rebound without breaking out of its established range.

BTC Dominance Hinting at Altseason Ahead?

As Bitcoin dominance hits fresh highs, market analysts are turning hopeful that this could be the final correction before the altcoin season kicks off. Crypto analyst Juice noted that “BTC.D is printing almost the exact same pattern as it did just before last alt season kicked off.” Trader and analyst Skew highlighted “capitulation wicks” as numerous tokens plunged by 20% or more, sparking hopes that the altcoin market may be due for a rebound.

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Former BitMEX CEO Arthur Hayes recently predicted a Bitcoin price crash to $75K, but also noted that “The beatings shall continue until morale improves. The pain stops when a TradFi outfit is on the verge of bankruptcy. Then the Fed reluctantly joins team Trump and prints that money. And then you better be ready to buy crypto like you have never bought before.”

While the current market turmoil is undoubtedly causing pain for investors, analysts are seeing signs of a potential altcoin rally on the horizon. As Bitcoin dominance continues to surge, it remains to be seen whether the altcoin market will bounce back and kick off a new season of growth.

Bitcoin Dominance Hits 4-Year High Amid Market Turmoil

Source: Btc News Bitcoin Dominance Soars To 4 Year Peak Top 5 Things To Watch This Week | Crypto-news-flash.com

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