A breakout in Bitcoin (BTC Dominance) is an important development and suggests that Bitcoin may continue to outperform altcoins in the short to medium term, especially if the upward momentum persists. The fact that it is breaking out of a bullish triangle pattern with strong trading volume is a bullish signal, indicating that investors may be focusing more on Bitcoin as a safer or more established asset compared to altcoins.
The main effects that these breakouts may have:
Increased Bitcoin market share: With the rise in Bitcoin dominance, we may witness the flow of more capital into Bitcoin, reinforcing its position as a dominant asset. This could lead to higher Bitcoin prices, as institutional players and investors may be inclined to increase their holdings in Bitcoin during periods of rising dominance.
Pressure on altcoins: Altcoins typically lose market share when Bitcoin leads the market, especially during periods of strong Bitcoin dominance. Market dynamics often cause altcoins to experience slower growth or price corrections while Bitcoin gains. In the coming weeks, we may see some altcoins stagnate or decline compared to Bitcoin's price movement.
The effects of Trump's statements on Bitcoin are very striking... In his first statement, Trump announced that a 10% tariff would be applied to all countries and the markets priced it positively. You see the movement of $BTC above $88,000.
Afterwards; he announced high-rate tariffs on China, Vietnam and the European Union and pulled all markets down. $1.3 Trion was wiped out in S&P 500 in 4 minutes. $BTC fell to $82,000. Trump's tax agenda is now boring. There will be a response to this. The pressure on the markets will continue. You can be sure that these taxes will be lifted sooner or later. They direct the markets as they want. They use social media tremendously. Markets are being shaped through Trump. We should say this openly now...
#TRUMP is deliberately continuing to create uncertainty. Despite this, BTC $BTC is holding strong. This is a temporary period, and #BTC will rise fast and hard. Just HODL.
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