Bitcoin Dominance Hits Key 64% Level — Correction or New Uptrend Ahead?

The dominance of Bitcoin has achieved its target (climax) and reached the 64% mark. Currently, the indicators suggest a significant decline, with the nearest support level at approximately 63.4%, only about half a percent below the current level. This seems like a realistic and expected target. Another more intriguing level is around 62.5% to 60%, especially considering the notable divergence on the weekly timeframe, which also appears plausible. If that occurs, altcoins (TOTAL3) could surpass the December 2024 high and potentially reach a range of 1.2 to 1.3 trillion dollars, likely leading me to liquidate most of my medium-term portfolio at that point. Overall, virtually anything is possible, but it’s important to remember this isn’t 2021. I doubt Bitcoin’s dominance will continue its steep descent. More likely, there will be pauses and deep corrections within the rebound of altcoins. Nevertheless, the upward trend has been established strongly, and sharp corrections should be seen as substantial entry points for long positions. Daily indicators for dominance currently indicate an increased probability of moving closer to 60%, which is favorable for our outlook.