Bitcoin Dominance Rises to 64%, Analysts Mark Support Levels for Altcoin Bulls

By Nivesh Rustgi
Published February 25, 2020 Updated February 25, 2020
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Bitcoin Dominance Rises to 64%, Analysts Mark Support Levels for Altcoin Bulls

By Nivesh Rustgi
Published February 25, 2020 Updated February 25, 2020

Bitcoin’s dominance rises back to 64.1% as the bears have started to return to crypto markets. It logged a swing low of around 61.9% on 10th February, as Ethereum, Tezos, Link and other altcoins recorded hefty gains, even w.r.t. BTC.


As reported earlier on CoinGape, due to the higher systematic risk of altcoins w.r.t. Bitcoin, altcoin investors gain/lose more than BTC during trending markets. Technically, the levels for support and resistance for entire market capitalization of altcoins are starting to look weak.

Chart analyst, alias Immortal Technique tweeted,

$BTC Dominance Looks good so far but reclaim this trendline would be bad for alts.. Let’s see.

Currently, the dominance is below the 50-period weekly EMA, which is positive for altcoins. However, if it reclaims dominance back above the trend-line (>70% in the near future), the altcoins could face see another sell-off to Bitcoins.

btc dominance
Bitcoin Dominance Chart over Crypto Markets (TradingView)

Leading on-chain crypto analyst and investor, Murad Mahmudov shared two charts on Twitter also projecting dreadful forth-comings in altcoins.

On the long-term charts, the total market capitalization of altcoins (crypto Mcap excluding Bitcoin) got rejected at at the resistance, now looking down at reversal.

In case of further downtrend, it will look for support at the mid and bottom of the range.

crypto mcap excluding BTC
Crypto MCap Excluding BTC (TradingView)

In the short term (4-hour) as well, a descending triangle formation along with breakdown of bullish trend-lines brings bearish tidings. The support and break-down level of the triangle is around $95.7 billion.

At press time, the total market market capitalization of altcoins is $96.9 billion.

crypto mcap price analysis
Crypto MCap 4-Hour Price Analysis (Source)

Currently, the price of Bitcoin is holding above support around $9200-$9500. However, in case of continuation of the bearish trends Bitcoin, crypto markets threaten to elevate the risk in altcoins.

Do you think alt-season will continue or bears are upon the crypto markets again? Please share your views with us. 

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Nivesh Rustgi
1181 Articles
Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)

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