Bitcoin Dominance Pullback Before Next Upside Move

The cryptocurrency market is abuzz with analysis as More Crypto Online recently shared a detailed chart on Bitcoin (BTC) dominance, offering insights into its short-term trajectory. The chart highlights a prevailing upward trend for BTC dominance in October, yet it suggests a potential (B)-wave pullback in the very near term before resuming its upward momentum. This analysis is critical for traders and investors navigating the volatile crypto landscape, where BTC dominance reflects Bitcoin’s share of the total cryptocurrency market capitalization.

Short-Term Dip Could Benefit Altcoins

The chart, spanning a one-hour timeframe, marks key levels with labeled waves (A, B, C) and percentage thresholds ranging from 57.66% to 61.80%. Currently hovering around 59.92%, BTC dominance shows signs of consolidation after a recent dip, with support levels at 57.66% and resistance near 61.80%. The anticipated pullback could see dominance testing lower supports, potentially signaling a window for altcoins to gain traction. This aligns with historical patterns where a decline in BTC dominance often precedes altcoin rallies, a phenomenon closely watched by the crypto community.

Monitoring Key Levels for Next Market Phase

For investors, this presents a strategic opportunity. A short-term pullback could be a dip to buy BTC or pivot toward altcoins with strong fundamentals. However, the upside continuation post‑pullback suggests Bitcoin could reclaim higher dominance levels, reinforcing its market leadership. Monitoring volume and key support/resistance zones will be crucial in the coming days. As the market evolves, this analysis underscores the dynamic interplay between BTC and altcoins, shaping the next phase of the crypto cycle.