- Bitcoin dominance held around 57–60%, raising expectations of an altcoin rally.
- Ethereum consolidated above $4,700, testing key support at $4,200 and $3,300.
- Solana, Cardano, and Dogecoin led altcoin gains with weekly jumps of 10–20%.
The crypto market added fresh gains in the past 24 hours, with total market capitalization rising 1.8% to $4.08 trillion. Bitcoin climbed close to $116,000, while Ethereum jumped more than 4% to trade above $4,700.
XRP also moved higher, gaining nearly 4% to $3.16. Among altcoins, Solana and Cardano stood out with weekly gains of nearly 20% and 15% respectively, while Dogecoin surged over 10% in the last day.
Is Bitcoin Losing Its Grip?
However, the market is closely watching Bitcoin’s dominance chart, which is showing early signs of decline. A drop in Bitcoin dominance typically means altcoins are gaining strength.
One analyst has observed that Bitcoin dominance has been moving sideways around 57–60%. This has raised expectations that dominance could soon slip to new lows, giving altcoins more room to run.
Related: Trump Policies Could Extend Asset Rally, Arthur Hayes Says as BTC Steadies
Why Does Bitcoin Dominance Matter?
On the monthly chart, Bitcoin dominance is testing important moving averages, including the 20-month level. The analyst said that when this broke down in the last cycle, it marked the beginning of altcoin season.
Ethereum’s Next Move
Ethereum’s performance in the coming days will be a key indicator for the wider altcoin market. If Ethereum breaks higher, it could trigger a strong surge across other tokens.
According to the expert, Ethereum is trading in a consolidation phase, pulling back toward key moving averages that could decide its next move.
The 20-day moving average now sits near $4,200, while the 50-day is around $3,300 and ETH has been testing these levels for weeks, creating a setup that resembles earlier bullish breakouts.
Related: Top Altcoins Are Outperforming Bitcoin: Is Altcoin Season Here?
Despite short-term volatility, the broader structure still flashes bullish. If support holds, Ethereum could soon enter price discovery and push toward new highs. However, a dip to $3700 levels remains possible if ETH retests deeper support zones before the next leg higher.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
