NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

Altcoins Boosted by Bitcoin Dominance Falling to 10-Week Low

Samuel Wan
Samuel Wan
1 year ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin dominance has been caught in a descending channel since May when it reached 69%. At present, BTC represents 64.9% of the total cryptocurrency market cap, a 10-week low.

Bitcoin dominance

Bitcoin dominance year to date. (Source: tradingview.com)

The end of last month saw the start of a sharp down leg, which has had the effect of sparking life into the alternative cryptocurrencies.

Today sees a strong performance by the altcoins against Bitcoin, leading many to wonder if the long-awaited altseason is imminent.

Is Bitcoin Dominance Starting to Break Down?

Bitcoin dominance measures the market cap of BTC against that of the rest of the other cryptocurrencies. It serves as an indicator of Bitcoin’s strength about the altcoins. As such, when BTC dominance falls, altcoins pump.

The metric has long been used as a guide to predict the coming of the so-called “altseason,
where exponential increases in altcoin valuations lead to a frenzy of activity in the market.

And as Bitcoin dominance continues to show signs of weakness, expectations are heightened for altseason to arrive soon.

With that, a trader noted that BTC dominance had broken down from its bear flag. While he warned of a possible fakeout, he also stated that this move could be the start of a favorable macro trend for the altcoins.

“focus on the next important key level 65,65% (red line), once it breaks ->altcoin party – strongly defended though for now might be a fakeout.”

Bitcoin Dominance Update 💯

Accuracy of this thread continues to be 100%

– you see a breakout out of the bearflag as expected, but…
– focus on the next important key level 65,65% (red line), once it breaks ->altcoin party
– strongly defended though for now might be a fakeout pic.twitter.com/1IKfejDOh1

— ANBESSA (@Anbessa100) June 26, 2020

Small and Micro-Cap Altcoins Gaining Ground

But before investors can officially call a start to altseason, Bitcoin dominance needs to drop much further, to the 58% level for this to happen. Standing in the way is strong support at around the 64% level.

Despite that, the majority of altcoins listed on Binance have today posting gains against BTC. The list of multiple double-digit gainers includes Aave, Fantom, and Chainlink, with Dogecoin leading the charge against BTC.

top altcoins against Bitcoin

Source: binance.com

Dogecoin’s surprising performance is a result of viral exposure on TikTok. Thousands of creators on the social media platform have called on followers to buy Dogecoin in the hopes of driving it up to $1.

Community insights analysts, LunarCRUSH tweeted that social media mentions of Dogecoin were up significantly, having reached 2,294 occurrences within a day.

With 2,294 daily social post mentions, Dogecoin has formed a near-perfect and extremely bullish $doge Twinkie. https://t.co/Xwka6Sxuwl #dogecoin pic.twitter.com/ZoYPoTn251

— LunarCrush (@LunarCrush) July 7, 2020

Although it’s too soon to call a start to altseason, the recent performance of some of the small and micro-cap coins would say otherwise.

That includes the likes of Zilliqa, up 223% in three months, and VeChain, up 214% in three months. Meanwhile, for comparison purposes, Bitcoin is up only 27% over the same period.

Investors have mostly forgotten about Dogecoin, until now. But with its ranking as of today’s top performer, it’s clear that investor sentiment has already flipped towards the altcoins.

Is this a trend that will continue to spread across the rest of the alt markets?

Tweet123Share196ShareSend
Samuel Wan
Samuel Wan

Samuel Wan

Samuel Wan is passionate about different cultures and eating good food. He has years of experience working in business and finance — a burgeoning interest in Bitcoin and cryptocurrencies since 2017. UK based.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Trendošā jaunā mēmu monēta TOKEN6900 gatavojas uzlidojumam – vai tā būs nākamā SPX6900?

Trendošās mēmu monētas TOKEN6900 (T6900) cena gatavojas kāpumam “sliktās ziņas = labas ziņas” scenārija dēļ, ko šodien gaida no NFP...

lasma 3 hours ago
Crypto Market Heats Up as Corporate Bitcoin Treasuries Reach 1M – Here are the Best Cryptos to Buy

Crypto Market Heats Up as Corporate Bitcoin Treasuries Reach 1M – Here are the Best Cryptos to Buy

The corporate Bitcoin sector has just smashed a major milestone. Public companies now own over 1M $BTC, showing massive confidence...

Aaron Walker 3 hours ago
maxi doge

Dogecoin στα $4; Το Maxi Doge μπορεί να φτάσει εκεί πρώτο, καθώς το αληθινό alpha τρέχει προς τα $2M στο ICO

Το Dogecoin (DOGE) έχει στο τραπέζι μια τολμηρή πρόβλεψη τιμής στα $4, παρόλο που δεν έχει καταφέρει ακόμη να ξεπεράσει...

Ιωάννης Ριζόπουλος 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Noord-Koreaanse hacker op de loer - pas op voor deze groeiende scam

Noord-Koreaanse hacker op de loer – pas op voor deze groeiende scam

Lars Diederiksen 33 minutes ago

Previsioni Ethereum: ETH Resiste Alle Turbolenze del Mercato Crypto

clararosati 2 hours ago
Dogecoin ETF news

First US Dogecoin ETF Could Debut Next Week—How Will It Impact Price?

Jake Simmons 2 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後は4ドル突破か?新興ミームコインが200万ドルプレセールで主役に

    ドージコイン...

    2 hours ago
  • リップル 今後の価格予測:米規制緩和と国際送金拡大で3ドル突破の可能性

    リップル...

    2 hours ago
  • ChatGPT予測によるソラナ400ドルと注目の仮想通貨おすすめ銘柄

    ...

    4 hours ago
  • 新しい仮想通貨のプレセール、クジラ投資で1,500万ドル目前

    ...

    4 hours ago
  • 1M BTC超を蓄積する企業財務、1110億ドル規模へ拡大──アルトコイン市場が躍進

    1M...

    4 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.