Bitcoin Dominance Shows Signs of Life, Eyes Key Resistance Levels at 59.7%
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Dec 22 2024Bitcoin Dominance and Market Trends: Bitcoin dominance has rebounded to 59%, with potential resistance at 59.7% and targets of 60.8%-61.8%. This indicates a bullish sentiment in the market, supported by steady buying pressure and reclaiming key moving averages.
Impact on Altcoins: If Bitcoin dominance loses support at 57.7%-58.3%, altcoins may gain momentum; however, if it approaches higher resistance levels, altcoin performance could be suppressed as Bitcoin's dominance increases.
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.
