{"id":656754,"date":"2024-12-04T22:00:56","date_gmt":"2024-12-04T22:00:56","guid":{"rendered":"https:\/\/ktsl888.com\/?p=656754"},"modified":"2024-12-04T10:59:21","modified_gmt":"2024-12-04T10:59:21","slug":"altcoins-in-the-spotlight-as-bitcoin-dominance-flashes-sell-signal","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/altcoins-in-the-spotlight-as-bitcoin-dominance-flashes-sell-signal\/","title":{"rendered":"Altcoins In The Spotlight As Bitcoin Dominance Flashes Sell Signal"},"content":{"rendered":"<p>The biggest cryptocurrency in the world, Bitcoin is losing its hold on market supremacy, therefore changing the crypto scene. Analysts believe cryptocurrencies may soon take the spotlight as their market share drops to 55.80% and a confirmed sell signal flashes for the first time since 2020. As <a href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\" target=\"_blank\" rel=\"noopener nofollow\">Bitcoin&#8217;s price<\/a> battles to sustain its momentum and falls below important trendline support, this sentiment picks traction.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/xrp-still-below-its-all-time-high-as-crypto-explodes-107-psychologist-says\/\" target=\"_blank\" rel=\"noopener \">XRP Still Below Its All-Time High As Crypto Explodes 107%, Psychologist Says<\/a><\/div>\n<h2>Bearish Signals Trigger Altseason Conjecture<\/h2>\n<p>The relative strength index (RSI) indicating Bitcoin&#8217;s dominance is trading below its midline, therefore reinforcing negative expectations. Such situations have historically cleared the path for what is known as &#8220;altseason&#8221;\u2014a time when other <a href=\"https:\/\/coinmarketcap.com\/\" target=\"_blank\" rel=\"noopener nofollow\">cryptocurrencies<\/a> shine above Bitcoin. Experts contend that capital from Bitcoin could move into altcoins, generating instability and fresh investing prospects.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">The sell signal has just flashed on the Bitcoin dominance for the first time since 2020<\/p>\n<p>Let the real fun of <a href=\"https:\/\/twitter.com\/hashtag\/ALTSEASON?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#ALTSEASON<\/a> begins <a href=\"https:\/\/t.co\/R9QeCO69YH\" rel=\"nofollow\">pic.twitter.com\/R9QeCO69YH<\/a><\/p>\n<p>\u2014 Mikybull \ud83d\udc02Crypto (@MikybullCrypto) <a href=\"https:\/\/twitter.com\/MikybullCrypto\/status\/90974944?ref_src=twsrc%5Etfw\" rel=\"nofollow\">December 3, 2024<\/a><\/p><\/blockquote>\n<p>This trend corresponds with the lowered holdings among long-term Bitcoin investors, hence it is not only theoretical. Recent data from IntoTheBlock shows that wallets containing Bitcoin for more than 155 days currently only possess about 12.45 million BTC, the lowest number since mid-2022. These balances, declining almost 10%, point to some individuals cashing in gains or shifting their money to cold wallets.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-656759\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/a_cdf841.png?resize=1024%2C578\" alt=\"\" width=\"1024\" height=\"578\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/a_cdf841.png?w=1537 1537w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/a_cdf841.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/a_cdf841.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/a_cdf841.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/a_cdf841.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/a_cdf841.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/p>\n<h2>Bitcoin: Decline In Long-Term Holdings<\/h2>\n<p><span id=\"input-sentence~4\">As the anticipated $100,000 goal for the alpha coin gets closer, Bitcoin&#8217;s price has run into strong resistance. Multiple failures at $97,500 have led to big drops. Bitcoin fell even more on Tuesday, selling around $93,940.<\/span><span id=\"input-sentence~5\"> This volatility is matched by a clear drop in long-term assets, which makes it hard to tell where the market is going.<br \/>\n<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Bitcoin long-term holders are gradually reducing their balances, now holding 12.45 million BTC\u2014the lowest level since July 2022.<\/p>\n<p>So far, this decline is less severe than in past cycles. Long-term holder balances have fallen by 9.8% this cycle, compared to 15% in 2021 and 26% in\u2026 <a href=\"https:\/\/t.co\/eA5Cckrgs4\" rel=\"nofollow\">pic.twitter.com\/eA5Cckrgs4<\/a><\/p>\n<p>\u2014 IntoTheBlock (@intotheblock) <a href=\"https:\/\/twitter.com\/intotheblock\/status\/43791972?ref_src=twsrc%5Etfw\" rel=\"nofollow\">December 3, 2024<\/a><\/p><\/blockquote>\n<p>Although the present drop in holdings is less significant than those in 2021 or 2017, it draws attention to shifting market attitude. Some observers say this conduct shows purposeful repositioning by experienced investors trying to fit changing market conditions.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-656764\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/a_fc14e5.png?resize=1024%2C322\" alt=\"\" width=\"1024\" height=\"322\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/a_fc14e5.png?w=1606 1606w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/a_fc14e5.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/a_fc14e5.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/a_fc14e5.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/a_fc14e5.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/a_fc14e5.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/a_fc14e5.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/p>\n<h3>Rare Bullish Signal Provides Hope Among Bearish Mood<\/h3>\n<p>Even with the negative undertones, a rare bullish indication gives some hope. Recently in line with moving averages, the Spent Output Profit Ratio (SOPR) indicates that Bitcoin might rally in the next one to two months. Such signs are rare, only once or twice during an upward market cycle.<\/p>\n<figure style=\"width: 1847px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.tradingview.com\/x\/2Myrd8ja\/\" alt=\"\" width=\"1847\" height=\"959\"><figcaption class=\"wp-caption-text\">BTCUSD trading at $96,518 on the 24-hour chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/cardano-to-hit-10-analyst-thinks-its-happening-this-cycle\/\" target=\"_blank\" rel=\"noopener \">Cardano To Hit $10? Analyst Thinks It\u2019s Happening This Cycle<\/a><\/div>\n<p>Although the bearish pressure is still evident, experts note that these positive signals provide risk-tolerant investors some good possibilities. Consistent with past patterns following halving events, market observers are also preparing for a possible slump as January 2025 draws near.<\/p>\n<p>For now, the declining dominance and increasing volatility of Bitcoin highlight the need of a careful yet strategic approach. Whether it&#8217;s Altseason or a fresh Bitcoin surge, the next months could change the scene of cryptocurrencies.<\/p>\n<p><em>Featured image from DALL-E, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The biggest cryptocurrency in the world, Bitcoin is losing its hold on market supremacy, therefore changing the crypto scene. Analysts believe cryptocurrencies may soon take the spotlight as their market share drops to 55.80% and a confirmed sell signal flashes for the first time since 2020. As Bitcoin&#8217;s price battles to sustain its momentum and falls below important trendline support, this sentiment picks traction. Related Reading: XRP Still Below Its All-Time High As Crypto Explodes 107%, Psychologist Says Bearish Signals Trigger Altseason Conjecture The relative strength index (RSI) indicating Bitcoin&#8217;s dominance is trading below its midline, therefore reinforcing negative expectations. Such situations have historically cleared the path for what is known as &#8220;altseason&#8221;\u2014a time when other cryptocurrencies shine above Bitcoin. Experts contend that capital from Bitcoin could move into altcoins, generating instability and fresh investing prospects. The sell signal has just flashed on the Bitcoin dominance for the first time since 2020 Let the real fun of #ALTSEASON begins pic.twitter.com\/R9QeCO69YH \u2014 Mikybull \ud83d\udc02Crypto (@MikybullCrypto) December 3, 2024 This trend corresponds with the lowered holdings among long-term Bitcoin investors, hence it is not only theoretical. Recent data from IntoTheBlock shows that wallets containing Bitcoin for more than 155 days currently only possess about 12.45 million BTC, the lowest number since mid-2022. These balances, declining almost 10%, point to some individuals cashing in gains or shifting their money to cold wallets. Bitcoin: Decline In Long-Term Holdings As the anticipated $100,000 goal for the alpha coin gets closer, Bitcoin&#8217;s price has run into strong resistance. Multiple failures at $97,500 have led to big drops. Bitcoin fell even more on Tuesday, selling around $93,940. This volatility is matched by a clear drop in long-term assets, which makes it hard to tell where the market is going. Bitcoin long-term holders are gradually reducing their balances, now holding 12.45 million BTC\u2014the lowest level since July 2022. So far, this decline is less severe than in past cycles. Long-term holder balances have fallen by 9.8% this cycle, compared to 15% in 2021 and 26% in\u2026 pic.twitter.com\/eA5Cckrgs4 \u2014 IntoTheBlock (@intotheblock) December 3, 2024 Although the present drop in holdings is less significant than those in 2021 or 2017, it draws attention to shifting market attitude. Some observers say this conduct shows purposeful repositioning by experienced investors trying to fit changing market conditions. Rare Bullish Signal Provides Hope Among Bearish Mood Even with the negative undertones, a rare bullish indication gives some hope. Recently in line with moving averages, the Spent Output Profit Ratio (SOPR) indicates that Bitcoin might rally in the next one to two months. Such signs are rare, only once or twice during an upward market cycle. Related Reading: Cardano To Hit $10? Analyst Thinks It\u2019s Happening This Cycle Although the bearish pressure is still evident, experts note that these positive signals provide risk-tolerant investors some good possibilities. Consistent with past patterns following halving events, market observers are also preparing for a possible slump as January 2025 draws near. For now, the declining dominance and increasing volatility of Bitcoin highlight the need of a careful yet strategic approach. Whether it&#8217;s Altseason or a fresh Bitcoin surge, the next months could change the scene of cryptocurrencies. Featured image from DALL-E, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":656769,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,428,1119,1144,6664],"class_list":["post-656754","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-bitcoin","tag-btc","tag-btcusd","tag-crypto"],"acf":[],"yoast_head":"\n<title>Altcoins In The Spotlight As Bitcoin Dominance Flashes Sell Signal<\/title>\n<meta name=\"description\" content=\"The biggest cryptocurrency in the world, Bitcoin is losing its hold on market supremacy, therefore changing the crypto scene. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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