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- 📢 Exclusive on Gate Square — #PROVE Creative Contest# is Now Live!
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Analysis: Bitcoin's market dominance exceeding 60% has reached the resistance zone, which may be beneficial for alts.
PANews April 12 news, according to Newsbtc, cryptocurrency analyst El Crypto disclosed data showing that Bitcoin's market dominance has exceeded 60% and has reached resistance zones. Judging from the historical trend over the past year and a half, this trend has entered the pullback area, while the Relative Strength Index (RSI) is also in the Overbought zone, which indicates that the market may be favorable for alts or may welcome a Rebound. In addition, cryptocurrency analyst Kevin Capital seems to hold an optimistic view on the subsequent market of alts, however, he warns that the situation for ETH may be different, as ETH has performed poorly throughout the cycle.