{"id":4533,"date":"2024-12-20T13:34:32","date_gmt":"2024-12-20T13:34:32","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=4533"},"modified":"2024-12-20T13:34:32","modified_gmt":"2024-12-20T13:34:32","slug":"is-bitcoin-dominance-about-to-give-way-to-altseason-analysts-react","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=4533","title":{"rendered":"Is Bitcoin Dominance About To Give Way To Altseason? Analysts React"},"content":{"rendered":"
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Bitcoin (BTC) tumbled from a high of $108,135 on December 17 to $99,500, following US Federal Reserve (Fed) Chair Jerome Powell\u2019s hawkish remarks yesterday. However, some crypto analysts are pinning their hopes on a potential decline in Bitcoin Dominance (BTC.D) that may pave the way for an altseason<\/a>.<\/p>\n

What Caused The Crypto Market Crash?<\/h2>\n

Since yesterday, the total crypto market cap has fallen by more than 6%, with the bulk of the losses recorded in altcoins. In absolute terms, over $200 billion has been wiped out from the crypto market in the past 24 hours.<\/p>\n

Powell\u2019s hawkish statements triggered the decline in the crypto market, which suggested that the Fed\u2019s battle against inflation is not over yet. Powell indicated that there might only be two interest rate cuts in 2025 instead of three.<\/p>\n

Additionally, the Fed has raised the 2025 inflation forecast from 2.1% to 2.5%. Even the 2026 forecast is pegged at 2.1%, higher than the central bank\u2019s goal of 2%. The Fed sees inflation as an issue that might persist for another two years, resulting in interest rates remaining high for longer than initially anticipated.<\/p>\n

The crypto market reacted negatively to Powell\u2019s statements, resulting in liquidations exceeding $850 million in the past 24 hours. Nevertheless, some crypto analysts view the fall as an opportunity to accumulate altcoins, expecting BTC.D to decline in the coming days.<\/p>\n

Is Bitcoin Dominance About To Collapse?<\/h2>\n

According to the following chart, during the weekly timeframe, Bitcoin Dominance has been on a continual uptrend<\/a> for the past two weeks, rising from 56.24% to 58.50% at the time of writing. Some analysts are confident that BTC.D is forming a lower high, which may be followed by a steep decline leading to a full-fledged altseason.<\/p>\n

\"bitcoin<\/p>\n

Bitcoin analyst Eric Crown took X to share his thoughts<\/a> on the BTC.D chart. The analyst noted that the metric may fall to 54% after a small surge to 59%.\u00a0<\/p>\n

Another crypto analyst @CryptoGoos noted<\/a> that BTC.D top is already in. The trader added that the altcoin season will likely continue after BTC.D gets rejected from resistance levels between 58% and 59%.<\/p>\n

Similarly, Bitcoin and stock market analyst Seth highlighted BTC.D\u2019s behavior during the last two market cycles. He stated that BTC.D might follow a similar trajectory this cycle, consolidating at a key support level of around 58% before an eventual crash.<\/p>\n

\"btc.d\"<\/p>\n

That said, former BitMEX exchange CEO Arthur Hayes recently shared<\/a> his crypto market outlook, predicting a \u201charrowing dump\u201d around US President-elect Donald Trump\u2019s inauguration on January 20, 2025. BTC trades at $100,978 at press time, down 3% in the past 24 hours.<\/p>\n

\"bitcoin\"<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) tumbled from a high of $108,135 on December 17 to $99,500, following US Federal Reserve (Fed) Chair Jerome Powell\u2019s hawkish remarks yesterday. However, some crypto analysts are pinning their hopes on a potential decline in Bitcoin Dominance (BTC.D) that may pave the way for an altseason. What Caused The Crypto Market Crash? Since […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-4533","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/4533","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4533"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/4533\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4533"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}