{"id":11787,"date":"2024-11-19T23:00:00","date_gmt":"2024-11-19T23:00:00","guid":{"rendered":"https:\/\/cryptd.in\/bitcoin-dominance-sliding-below-this-level-could-signal-start-of-altseason-trading-firm-says\/"},"modified":"2024-11-19T23:00:00","modified_gmt":"2024-11-19T23:00:00","slug":"bitcoin-dominance-sliding-below-this-level-could-signal-start-of-altseason-trading-firm-says","status":"publish","type":"post","link":"https:\/\/cryptd.in\/sk\/bitcoin-dominance-sliding-below-this-level-could-signal-start-of-altseason-trading-firm-says\/","title":{"rendered":"Bitcoin Dominance Sliding Below This Level Could Signal Start Of Altseason, Trading Firm Says"},"content":{"rendered":"<p>Bitcoin (BTC) continues its historic price trajectory, trading in the low $90,000 range at the time of writing. However, a trading firm suggests that Bitcoin dominance (BTC.D) falling below a crucial level could signal the start of the long-anticipated altcoin season.<\/p>\n<h2>Interest Rate Cuts, Trump Administration To Propel Crypto<\/h2>\n<p>In a recent Telegram broadcast, Singapore-based trading firm QCP Capital <a href=\"https:\/\/www.qcpgroup.com\/insights\/asia-colour-60\/\" target=\"_blank\" rel=\"noopener nofollow\">shared<\/a> its crypto market analysis. The firm highlighted Solana\u2019s (SOL) recent performance, noting that it outpaced Bitcoin and Ethereum (ETH) over the weekend, surging more than 17% from Friday\u2019s lows.<\/p>\n<p>Despite this, QCP Capital acknowledged that many investors remain hesitant to embrace the prospect of an imminent alt season, given Bitcoin\u2019s steady climb toward the psychologically significant $100,000 mark. Rekt Capital\u2019s analysis <a href=\"https:\/\/www.newsbtc.com\/bitcoin-news\/bitcoin-parabolic-phase-just-begun-is-btc-hitting-100000-this-week\/\" target=\"_blank\" rel=\"noopener \">supports<\/a> this sentiment, suggesting BTC is just beginning its parabolic phase.<\/p>\n<p>QCP Capital, however, predicted that a combination of Donald Trump\u2019s victory in the US presidential election and interest rate cuts by the Federal Reserve (Fed) could set the stage for a full-blown altcoin season in the coming months.<\/p>\n<h2>Trading Firm Identifies Key Bitcoin Dominance Threshold For Altseason<\/h2>\n<p>According to QCP Capital, altcoins historically outperform major cryptocurrencies once the latter consolidate after significant rallies. The firm explained:<\/p>\n<blockquote>\n<p>Historically, we\u2019ve seen altcoins outperform whenever the majors consolidate after a significant rally as profits rotate into smaller-cap coins. BTC\u2019s dominance is around 60% now and it will probably need to be around &lt;58% to signal the start of altcoin season.<\/p>\n<\/blockquote>\n<p>Currently, BTC.D stands at 60.10%. A look at the weekly chart shows that Bitcoin dominance has been on a steady uptrend since November 2022, when it hovered at 39.92%. Over this two-year period, most altcoins have underperformed Bitcoin significantly.\u00a0<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"wp-image-653882 size-large\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/11\/bitcoin-dominance.png?w=860&amp;resize=860%2C637\" alt=\"bitcoin dominance\" width=\"860\" height=\"637\" loading=\"lazy\" \/><\/p>\n<p>However, altcoins have recently shown signs of recovery, coinciding with the growing likelihood of a pro-crypto Trump administration. Digital assets like SOL, Cardano (ADA), and XRP have significantly outperformed BTC in the past few weeks.<\/p>\n<p>QCP Capital\u2019s analysis aligns with that of crypto analyst @MikybullCrypto, who predicts BTC.D will decline starting in December. According to the analyst, altseason could begin toward the end of November and last until March 2025.\u00a0<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"wp-image-653879 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/11\/milkybull-analysis.png?resize=2357%2C1326\" alt=\"milkybull analysis\" width=\"2357\" height=\"1326\" loading=\"lazy\" \/><\/p>\n<p>Some analysts believe Bitcoin may continue its rally before showing signs of weakness. For instance, Fundstrat\u2019s head of research, Tom Lee, recently <a href=\"https:\/\/www.newsbtc.com\/bitcoin-news\/bitcoin-price-forecast-fundstrat-sees-btc-comfortably-over-100000-this-year\/\" target=\"_blank\" rel=\"noopener \">uviedol .<\/a> that BTC is on track to reach $100,000 before the end of the year.<\/p>\n<p>That said, the altcoin market cap recently <a href=\"https:\/\/www.newsbtc.com\/altcoin\/altcoin-market-cap-200-day-ema-altseason\/\" target=\"_blank\" rel=\"noopener \">surged<\/a> past a key resistance level, indicating that altcoin season might be closer than expected. At press time, BTC trades at $91,760, trading flat in the past 24 hours.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"wp-image-653881 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/11\/bitcoin_fa4e4c.png?resize=2294%2C1700\" alt=\"bitcoin\" width=\"2294\" height=\"1700\" loading=\"lazy\" \/><\/p>","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) continues its historic price trajectory, trading in the low $90,000 range at the time of writing. However, a trading firm suggests that Bitcoin dominance (BTC.D) falling below a crucial level could signal the start of the long-anticipated altcoin season. Interest Rate Cuts, Trump Administration To Propel Crypto In a recent Telegram broadcast, Singapore-based [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":11788,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bitcoin Dominance Sliding Below This Level Could Signal Start Of Altseason, Trading Firm Says - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/sk\/bitcoin-dominance-sliding-below-this-level-could-signal-start-of-altseason-trading-firm-says\/\" \/>\n<meta property=\"og:locale\" content=\"sk_SK\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Dominance Sliding Below This Level Could Signal Start Of Altseason, Trading Firm Says - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"Bitcoin (BTC) continues its historic price trajectory, trading in the low $90,000 range at the time of writing. However, a trading firm suggests that Bitcoin dominance (BTC.D) falling below a crucial level could signal the start of the long-anticipated altcoin season. 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