This year, Bitcoin’s dominance has climbed by 15%, and dropping prices are terrible news for altcoins. Analysts believe memecoin pumping is a sign that the peak has passed. Bitcoin’s dominance has reached a two-year high, but it has suffered a minor setback today. Following the rise in BTC dominance, crypto trader @DrProfitCrypto advised caution with regard to altcoins. Bitcoin’s dominance has harmed altcoins, with BTC prices remaining stuck around $28,000 for more than a month and failing to break through barrier over $30,000.
The Bitcoin fear and greed index is still flashing a ‘green’ signal at 63, and memecoin madness indicates that the rise has peaked. On the day, cryptocurrency markets fell 1.8%.
Bitcoin Dominance Gains Could Be Bad News for ‘Alt Season’
