Bitcoin Dominance Rises, But It’s Not All Bad for Altcoins
Bitcoin moved above $80,000 and held those levels for a few days. With this, the popular gauge of the largest digital currency’s reached 61.3% — the highest reading in more than six months.
On the surface, elevated Bitcoin dominance signals cryptocurrency market participants are favoring that ****** et over its peers, but that doesn’t necessarily mean bad news for altcoins and the CoinShares Altcoins ETF (DIME). Examining the details more closely matters and upon doing that, market participants may find that DIME is worth considering over the near-term.
“This rise matters because investors still prefer Bitcoin’s relative strength while broader market confidence remains fragile. However, beneath this dominance surge, altcoins slowly began stabilizing after months of sustained pressure,” reported AMB Crypto.
Translation: Bitcoin can act as a rising tide that lifts all sails across the cryptocurrency landscape and while the percentage gains won’t be uniform, Bitcoin strength can matriculate to other digital ****** ets, potentially benefiting the actively managed DIME in the process.
Experienced altcoin investors know that births of new altcoin seasons take time and that at this point in the cycle, even baby steps are appreciated. With that in mind, some positive incremental signs are emerging that may be supportive of DIME upside.
https://www.etftrends.com/...
Bitcoin moved above $80,000 and held those levels for a few days. With this, the popular gauge of the largest digital currency’s reached 61.3% — the highest reading in more than six months.
On the surface, elevated Bitcoin dominance signals cryptocurrency market participants are favoring that ****** et over its peers, but that doesn’t necessarily mean bad news for altcoins and the CoinShares Altcoins ETF (DIME). Examining the details more closely matters and upon doing that, market participants may find that DIME is worth considering over the near-term.
“This rise matters because investors still prefer Bitcoin’s relative strength while broader market confidence remains fragile. However, beneath this dominance surge, altcoins slowly began stabilizing after months of sustained pressure,” reported AMB Crypto.
Translation: Bitcoin can act as a rising tide that lifts all sails across the cryptocurrency landscape and while the percentage gains won’t be uniform, Bitcoin strength can matriculate to other digital ****** ets, potentially benefiting the actively managed DIME in the process.
Experienced altcoin investors know that births of new altcoin seasons take time and that at this point in the cycle, even baby steps are appreciated. With that in mind, some positive incremental signs are emerging that may be supportive of DIME upside.
https://www.etftrends.com/...
24 days ago
