Altcoin sentiment is at extreme lows, but that’s not the only thing reaching extremes. Bitcoin dominance, a measure of the top cryptocurrency by market cap’s weight compared to the rest of the space, also reached the most extreme reading ever on a technical indicator known for its precise timing and ability to pin-point reversals.
If accurate, it’s only a matter of time until altcoins once again outperform BTC.
Why The 50% Level In Bitcoin Dominance Is Critical
In recent weeks, BTC dominance reached above 50% — an important psychological level in the relationship between Bitcoin and altcoins. While the metric has been much higher — and lower — in the past, the idea that one coin is the size of all others combined is a massive accomplishment.
But after reaching only 2% above the 50% zone, Bitcoin dominance has struggled to push any higher and found resistance. The first signs of a possible reversal began as XRP was deemed not a security by a US judge. Since then, the relatio
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