A close crypto analyst followed that Bitcoin can have a last rally in small groups before Altcoins start to surpass the BTC.
The pseudonym analyst known as Rekt Capital indicates to his 546,300 subscribers on the social media platform X that the Metric Bitcoin Dominance (BTC.D) could soon culminate, opening the doors for altcoins to light explosive movements up.
BTC.D calculates the share of market capitalization of BTC cryptography. A culminating Bitcoin dominance table suggests that altcoins are about to surpass the BTC.
“The domination of bitcoin has one last step in its macro trend on the road to 71% (red). Any plunge into 64% would be a retest. A successful retest would allow the final trend on the road to 71% (green box). ”
At the time of writing, the domination of Bitcoin is currently 64.82%.
Then, the analyst indicates that Bitcoin must contain a key level of support at $ 93,500 on the weekly graph to maintain the optimistic momentum.
“Bitcoin has rejected low high resistance (black diagonal). In the future, Bitcoin will have to maintain the range of $ 93,500 to fully confirm the recovery of the beach.”
Finally, the analyst says that Bitcoin could follow a similar scheme seen in April 2024 on the weekly graph, having finally reached new peaks of all time if it takes place.
“This idea was explored for the first time in mid-October 2024 and ended up playing. It would be poetry if Bitcoin repeated history and followed on the same path in this current range as well. For the story to be repeated, BTC would need:
- Reject $ 99,000.
- Hold $ 93,500.
- Break $ 97,000 at $ 99,000.
- Reject $ 104,500.
- Hold $ 97,000 at $ 99,000 in support.
- Escape to new heights of all time. »»
Bitcoin is traded at $ 94,604 at the time of the editorial staff, down 1.1% in the last 24 hours.
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