Bitcoin

when

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/altcoins-gain-ground-against-bitcoin" data-wpel-link="internal" rel="noopener noreferrer nofollow">Altcoins Gain Ground Against Bitcoin</a><br></p>
<p style="text-align: justify">As June nears, the cryptocurrency <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market</a> braces itself for possible shifts in pricing, particularly concerning <a href="https://en.bitcoinhaber.net/bitcoins-market-dynamics-and-price-uncertainty" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> and altcoins. Recent trends indicate a marked improvement in altcoin performance in comparison to Bitcoin. Altcoins have demonstrated resilience with steady gains in market value, even as Bitcoin also experiences price increases. This development has led to speculation about a potential decline in Bitcoin’s price <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">in the near future</a>.</p>
<h2 id="why-are-altcoins-gaining-importance">Why are Altcoins Gaining Importance?</h2>
<p style="text-align: justify">At the start of May, Bitcoin experienced a brief decline, with negative ETF inflows lasting only about a week before recovery. Over the past two weeks, consistent inflows have underlined a sustained demand for Bitcoin, showcasing the market’s fundamental strength despite temporary setbacks. Crypto analyst Jessica Miranda has noted that despite Bitcoin maintaining over 54% of the market share, altcoins have become more significant. Historically, periods of rising altcoin performance are usually followed by Bitcoin price drops, a trend evident since the rally began in September 2023.</p>
<h2 id="which-altcoins-surpass-bitcoin">Which Altcoins Surpass Bitcoin?</h2>
<p style="text-align: justify">Although Bitcoin generally leads the cryptocurrency market, there are times, particularly during intense bull runs, when altcoins outshine Bitcoin. This phenomenon was observable during the 2022-23 bear trend, highlighting the cyclical nature of market dynamics. Presently, the BTC dominance chart indicates that Bitcoin’s dominance is nearing a short-term low at 54%, potentially signaling an imminent rebound. A recovery in Bitcoin dominance could limit the ongoing altcoin rally and challenge expectations of a Bitcoin price drop.</p>
<p style="text-align: justify">Technical analysis of altcoins’ total market value suggests that resistance is approaching $1.24 trillion, hinting at a possible pullback in altcoin prices. However, given the strong upward trend over the past eight months, this resistance is expected to be eventually surpassed.</p>
<h2 id="concrete-insights">Concrete Insights</h2>
<p style="text-align: justify">Here are some user-usable inferences based on the current analysis:</p>
<ul>
 <li>Investors should monitor Bitcoin’s dominance chart for potential market shifts.</li>
 <li>Altcoin performance historically signals upcoming trends in Bitcoin pricing.</li>
 <li>Technical resistance at $1.24 trillion could be pivotal for altcoin market dynamics.</li>
 <li>Short-term fluctuations in altcoin prices may present buying opportunities.</li>
 <li>Historical patterns suggest possible market reversals in early June.</li>
</ul>
<h2 id="conclusion">Conclusion</h2>
<p style="text-align: justify">Although altcoins have shown robust performance recently, historical data and technical analyses suggest a potential reversal in the first half of June. This means while Bitcoin may see an uptick, altcoins might face a temporary decline.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/altcoins-gain-ground-against-bitcoin" data-wpel-link="internal" rel="noopener noreferrer nofollow">Altcoins Gain Ground Against Bitcoin</a></h5>

Altcoins Gain Ground Against Bitcoin

Table of Contents

BH NEWS

Other articles published on May 27, 2024

Bitcoin (BTC) Breaks 69k, Solana (SOL) Holds at $164.50, and Furrever Token (FURR) Shines as a Ne...

Bitcoin To $70K, Will the Bulls Confirm this Rally?

Blockchain dev Sphere introduces bank-to-wallet Telegram extension

Uniswap Flashes $41M Bankroll Ahead Of Crucial May 31st Governance Vote

Victim Recovers Most of Stolen Ethereum from Hackers

Crypto Market Prepares for Significant Token Unlocks

Join our free newsletter for daily crypto updates!