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A widely followed analyst believes that Bitcoin’s (BTC) relative share of the overall crypto market cap has entered a downtrend. The analyst pseudonymously known as Rekt Capital tells his 558,000 followers on X that altcoins may soon start breaking out as the Bitcoin dominance (BTC.D) chart is suddenly flashing bearish. BTC.D tracks how much of the crypto market cap belongs to Bitcoin. A bearish BTC.D chart indicates that altcoins are gaining value faster than Bitcoin. “In the end, Bitcoin dominance rejected from the lower high at 66% (black). More importantly, this lower high rejection has caused Bitcoin dominance to lose its macro uptrend (light blue), therefore drastically undermining chances for a revisit of 71%. As a result, Bitcoin dominance is on the cusp of losing this macro uptrend to kickstart a new macro downtrend. To confirm the breakdown from the macro uptrend, BTC.D will need to either turn the uptrend or 60% level (black horizontal) int...

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The co-founders of the crypto analytics platform Glassnode believe that Solana (SOL) may be gearing up for a massive run after being outperformed by rivals. Jan Happel and Yann Allemann, who go by the handle Negentropic, tell their 63,200 followers on the social media platform X that massive network activity could cause a Solana surge after the digital asset has retraced from printing a new all-time high. “The SOL always rises for everyone. If the market allows, this price zone could present a potential entry for SOL. After reaching a new all-time high, it has lagged slightly behind other layer-1s like XRP or ADA. However, we should never underestimate SOL, which boasts a thriving ecosystem. Let’s see!” Source: Negentropic/X Looking at their chart, the analysts suggest SOL may retest the $202-$208 range before rallying. SOL is trading for $231 at time of writing, down 2.3% in the last 24 hours. Meanwhile, at time of writing, XRP is trading for...

A closely followed crypto strategist thinks that it is almost time for altcoins to steal Bitcoin’s (BTC) thunder. Pseudonymous analyst TechDev tells his 481,600 followers on the social media platform X that he’s looking at historical price action to determine the arrival of a new altseason. According to the trader, data from crypto’s 2017 and 2020 bull markets suggest that a fresh altseason is on the horizon. “When altseason? Not sure. But the last two started after three consecutive weekly closes over the last Bitcoin weekly high…”  Source: TechDev/X Based on the trader’s chart, he seems to suggest that Bitcoin Dominance (BTC.D) took a massive plunge after BTC broke out from previous cycle highs and rallied for three weeks. The BTC.D index tracks how much of the total crypto market cap belongs to Bitcoin. A bearish BTC.D chart suggests that altcoins are about to outperform Bitcoin. TechDev shares another chart indic...