An analyst has cautioned that the next major move in Bitcoin dominance could determine whether altcoins surge or continue to decline.
Ethereum has gained about 22 percent over the past year, while Bitcoin has fallen by nearly 11 percent during the same period. This contrast is now becoming visible in market charts.
Bitcoin’s share of the total crypto market has been confined between 58 percent and 60 percent for the past six months. According to one expert, this range will play a crucial role in deciding whether Ethereum and other altcoins enter a bullish phase or face further downturns.
Because of this, the analyst advised closely monitoring any breakout from this range, as it could signal the next significant shift in the crypto market.
The tight range shaping the market’s direction
Bitcoin dominance, which reflects the portion of the total cryptocurrency market capitalization held by Bitcoin, has remained within the 58 percent to 60 percent band for half a year. Analyst Ash Crypto explained that this consolidation forms a technical setup where a move above 60 percent could push dominance toward 63 percent or even 64 percent.
Such a scenario would suggest that institutional investors are focusing mainly on Bitcoin, which could lead to continued declines in altcoins and drive the ETH to BTC ratio to new lows.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
