Recent fluctuations in the crypto currency market make investors uneasy. Ethereum $2,852.6XRP, Solana, Dogecoin 
$0.26485 and CARDANO 
$0.764264 Such leading Altcoins suffered a loss of about 3-4 %. Analysts, Bitcoin 
$98,847.0 After the dominance reached 71 %, he says that there may be recovery in Altcoins. However, due to market uncertainty and macroeconomic factors, investors are cautious.
Bitcoin Dominance and Effect on Altcoin Market
Bitcoin’s market domination is seen as one of the most important factors that determine the movements of Altcoins. According to the report published by the 10x Research, the slimming at the Bitcoin price has negative effects in the Altcoin market. Especially the harsh decline in Ethereum deepened with option gamma hedging and futures liquidations.
The research company predicts that Bitcoin’s reaching 71 %can lead to retreats between 5-10 %in the Altcoin market. Looking at historical data, it is seen that there are harsh corrections in Altcoins during periods of increase in Bitcoin dominance. In this process, investors should be careful.
Market expectations of analysts
Rect Capital, the leading market analyst, said mobility may experience in Altcoins when Bitcoin dominance reaches certain levels. According to him, as Bitcoin’s market domination increases, the Altcoins may first retreat, and then recovery signals can be seen.
The Titan of Crypto analyst says that the “Cup and Handle” formation attracts attention in the current market structure. He thinks that if this formation is completed, a strong movement in the crypto currency market may begin. However, he warns that many investors are not prepared enough for this new market phase.
Investors continue to closely monitor the macroeconomic developments and technical analysis indicators. If Bitcoin reaches 71 %dominance, volatility is expected to increase in the Altcoin market.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
