This website uses cookies to ensure you get the best experience on our website
30th Apr 2021
Dalmas Ngetich, for CryptoAltum News Team

Bitcoin Dominance Shrinks Below 50%, Altcoin Season On?

Coin trackers, on Apr 29, revealed that Bitcoin dominance, an indicator of the coin's strength versus altcoins, had dipped below 50 percent for the first time in over 30 months. It is at a time when ETH and BNB prices have been galloping higher. As BTC dominance took a hit, ETH/USD prices soared to a new all-time high above $2.7k.


Technically, Bitcoin dominance is a lagging indicator that can give traders a hint of what lies ahead, especially on the altcoins' side of the equation. It came when JP Morgan said ETH would eventually flip BTC. The fall points to a rejuvenation of altcoins spearheaded by Ethereum, BNB, Cardano, and IOTA. These projects are in various stages of development and adoption, with analysts expecting steep gains in the coming days.

Impact on the BTC Price: 

Bearish. BTC/USD prices are flat-lining above $54k, indecisive judging from price action in the past few days. The lapse of BTC bulls opens the door for ETH prices propped by several fundamentals, including Eth2 and EIP-1559.

More market news over on our Blog

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020