CandleFocus Altcoins See Window of Opportunity as Bitcoin Dominance Fails to Hit 62% Amid Extreme Greed
2024-11-17
Author: Content Editor
The dominance of Bitcoin in the overall cryptocurrency market has dropped to 60%, indicating a potential altcoin season. Altcoins, such as Bonk and Ripple, have been outperforming Bitcoin, leading to a rise in altcoin market cap and a decline in Bitcoin dominance. The Crypto Fear and Greed Index is currently at an "Extreme Greed" level, suggesting that a correction may be imminent. Analysts predict that altcoins may soon break out due to the fall in Bitcoin dominance. The total market cap of the top 125 altcoins has reached $1.19 trillion, indicating a bullish reversal if the altcoin season continues. However, if Bitcoin's price reaches new highs, the altcoin season may be delayed.
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