Expert Reveals: Bitcoin Has One Last Uptrend, Then It's Altcoin's Turn to Shine!
Bitcoin May Be About to Hit New Highs Before Giving Way to Altcoins
According to popular analyst Rekt Capital, Bitcoin is in the final stages of an uptrend in terms of market capitalization dominance .
The Bitcoin Dominance Index (BTC.D) – which measures BTC’s share of the total market capitalization – is currently at 64.82% and is expected to rise to 71% before reversing.
If true, this would be a sign that altcoin season may be about to begin.
$93,500 Level Determines Short-Term Trend
Despite being rejected at the resistance zone around $99,000 , Rekt Capital believes that Bitcoin still needs to hold the $93,500 support zone to continue the uptrend on the weekly time frame.
If this price zone is broken, the positive trend will be broken . If it holds, BTC may continue to fluctuate and bounce back within the familiar range of $93,500 to $99,000 .
Does History Repeat itself?
The analyst reiterated the same bullish pattern in April 2024 and suggested that if Bitcoin repeats the old pattern , the price could move towards a new record high .
Expected path: rejection at $99,000, hold $93,500, break $97,000–$99,000 zone, pause at $104,500, then reach new high .
BTC is currently trading at $94,604 , down slightly by 1.1% over the past 24 hours.