Do we trust the current market rally? 👀
The market has started moving strongly, and some coins have shown clear moves over the past period:
$UNI +26.30%
$NEAR +25.32%
$SOL +5.19%
$DOGE +5.17%
But the most important question is: what is supporting this move?
One of the biggest factors I’m watching right now is the dominance of BTC and USDT.
📉 BTC.D has fallen from the 60.41% area to around 59.05%, and now it faces a critical level at 58.79%.
If 58.79% is clearly broken, it could mean the continuation of outflow of some relative liquidity from Bitcoin toward the rest of the market, which may provide an additional boost to altcoins. A decline in BTC dominance is generally used as an indicator of a relative shift in interest toward altcoins, but it’s not a guarantee that they will rise.
Meanwhile:
💵 USDT.D is moving within a bearish Rectangle pattern, and after rejecting the 7.20% area, it started dropping toward support.
Breaking the bottom of the pattern is a very important signal.
If it coincides that:
BTC.D breaks 58.79% ↓
+
USDT.D breaks the pattern support ↓
Then we may get more momentum in favor of the altcoin market.
So for me, the question is not only: did the market rise?
But: will BTC and USDT dominance confirm the continuation of this rise? 👀
The market has started moving strongly, and some coins have shown clear moves over the past period:
$UNI +26.30%
$NEAR +25.32%
$SOL +5.19%
$DOGE +5.17%
But the most important question is: what is supporting this move?
One of the biggest factors I’m watching right now is the dominance of BTC and USDT.
📉 BTC.D has fallen from the 60.41% area to around 59.05%, and now it faces a critical level at 58.79%.
If 58.79% is clearly broken, it could mean the continuation of outflow of some relative liquidity from Bitcoin toward the rest of the market, which may provide an additional boost to altcoins. A decline in BTC dominance is generally used as an indicator of a relative shift in interest toward altcoins, but it’s not a guarantee that they will rise.
Meanwhile:
💵 USDT.D is moving within a bearish Rectangle pattern, and after rejecting the 7.20% area, it started dropping toward support.
Breaking the bottom of the pattern is a very important signal.
If it coincides that:
BTC.D breaks 58.79% ↓
+
USDT.D breaks the pattern support ↓
Then we may get more momentum in favor of the altcoin market.
So for me, the question is not only: did the market rise?
But: will BTC and USDT dominance confirm the continuation of this rise? 👀
