CandleFocus

Analyst Says Bitcoin RSI Dominance Needs To Crash To This Level For The Bull Run To Resume

Analyst Says Bitcoin RSI Dominance Needs To Crash To This Level For The Bull Run To Resume
The recent price corrections in the altcoin market have allowed Bitcoin to maintain its dominance. However, a crypto analyst known as Seth believes that for the broader market to experience another upward movement, Bitcoin's dominance RSI needs to cool down. The RSI tracks price movements and with Bitcoin's RSI dominance reaching an unprecedented level, it suggests that Bitcoin's control over the market is at an unsustainable peak. Seth projects a fall in Bitcoin's dominance to allow for a more balanced market, where capital can flow into altcoins and drive up their prices. This has historically marked the final phase of a bull run, where investors shift from Bitcoin to altcoins for short-term gains. Until Bitcoin's dominance cools off, the altcoin sector may struggle to gain momentum. Currently, Bitcoin's dominance stands at 61.0%.

Related News