Bitcoin Dominance Pressures Altcoins Amid Criticism

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 hour ago

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Value Concerns: Blockstream CEO Adam Back highlighted that many altcoins lack sustainable long-term value, particularly meme coins like Dogecoin and Shiba Inu, which, despite strong trading activity, face questions about their durability.
Bitcoin Dominance: With Bitcoin's dominance nearing 59% in the overall crypto market, a significant amount of investor capital remains concentrated in BTC, placing greater pressure on altcoins as liquidity flows toward safer assets.
Speculative Asset Risks: Back argues that many altcoins and meme coins are driven by online hype and speculative trading rather than utility, which could lead to deeper corrections when market conditions tighten.
Market Divide: Back's comments reflect a long-standing divide between Bitcoin maximalists and supporters of alternative blockchain projects, with the former asserting that Bitcoin's decentralized structure and fixed supply set it apart in the crypto market.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	69591.683	71940.642	74529.853	76878.812	79468.023	81816.982	84406.193
Fibonacci	71940.642	73827.023	74992.431	76878.812	78765.193	79930.601	81816.982

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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