Bitcoin’s Dominance is Signaling That “Altseason” May Be in Grave Jeopardy

Bitcoin’s dominance has been seeing a sharp decline over the past few days and weeks as altcoins have captured the majority of investors’ attention Yesterday, however, this metric hit a historically important region, and shortly after the benchmark cryptocurrency’s price began rebounding Some analysts are now noting that it may be “pullback time” for altcoins, with this potential decline being perpetuated if Bitcoin can smash above $10,000 Ethereum could also play a big role in this, as it has been more closely correlated to Bitcoin than it has been to smaller altcoins If ETH rallies further, it could further perpetuate any potential altcoin downturn Bitcoin has been seeing its price action heat up throughout the past few hours. Overnight, bulls were able to propel it from lows of $9,600 to highs of $10,200. The selling pressure it faced at this level was insurmountable, and its price quickly fell to lows…

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