{"id":21344,"date":"2024-05-27T11:47:36","date_gmt":"2024-05-27T08:47:36","guid":{"rendered":"https:\/\/coinengineer.io\/?p=21344"},"modified":"2024-05-27T11:47:36","modified_gmt":"2024-05-27T08:47:36","slug":"altcoin-market-soars-as-bitcoin-dominance-declines","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/altcoin-market-soars-as-bitcoin-dominance-declines\/","title":{"rendered":"Altcoin Market Soars as Bitcoin Dominance Declines"},"content":{"rendered":"<p>The altcoin market has surged, and this has led to new expectations of the onset of the altseason. Experts are abuzz with anticipation after the total altcoin market capitalization has risen recently and <strong>Ether<\/strong> is part of the total. <a href=\"https:\/\/coinengineer.net\/blog\/institutional-demand-for-ethereum-etfs-might-fall-short\/\">Ether<\/a>, one of the most popular altcoins, has risen by 27% over the past week and this has made it popular among traders and analysts.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/altcoin-market-soars-as-bitcoin-dominance-declines\/#Key_Resistance_Levels_and_Market_Predictions\" title=\"Key Resistance Levels and Market Predictions\">Key Resistance Levels and Market Predictions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/altcoin-market-soars-as-bitcoin-dominance-declines\/#Bitcoin_Dominance_Declines_as_Altcoins_Strengthen\" title=\"Bitcoin Dominance Declines as Altcoins Strengthen\">Bitcoin Dominance Declines as Altcoins Strengthen<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"Key_Resistance_Levels_and_Market_Predictions\"><\/span>Key Resistance Levels and Market Predictions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The overall market capitalization of <strong>altcoins<\/strong> at this point in time is estimated to be around <strong>$1.16 trillion, or 15% higher than the previous two weeks,<\/strong> TradingView data showed. This surge has brought the market cap close to the resistance levels of mid-March when it reached $1. 2 trillion.<\/p>\n<p>On the 26th of May, the well-known trader \u2018Trader Tardigrade\u2019 provided tips to his 50,000 followers on X, that has hinted at the fact that the altcoin market could triple its total market value if it starts to breakout from an \u2018inverse head-and-shoulder pattern\u2019 He also went on to say that \u2018it is expected to breakout in the next few weeks based on the pattern.\u2019<\/p>\n<p>In the same way, trader and analyst \u2018Rekt Capital\u2019 pointed out that the altcoin market cap is in the process of establishing the highest weekly close since the beginning of April 2024. Technical analyst \u2018Yoddha\u2019 was also hopeful, saying, <em>\u201cExpect some insane pump in alts when this breaks above the weekly resistance\u201d<\/em> in his post on X on May 26. Another analyst with the moniker \u2018Moustache\u2019 also had a positive outlook and informed his 120k followers, \u201c<em>Altseason is imminent.\u201d<\/em><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Bitcoin_Dominance_Declines_as_Altcoins_Strengthen\"><\/span>Bitcoin Dominance Declines as Altcoins Strengthen<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>In the past, Bitcoin prices have led, then Ether, and finally the rest of the altcoins have tended to follow.<\/strong> This pattern demonstrates how capital is flowing down the chain into lower-cap coins. In the last two weeks alone, the market share of Bitcoin has reduced by 3.7 percent to a level of%53.9, which point further to the improvement of the altcoin markets.<\/p>\n<p>As noted by the MN Trading\u2019s founder Micha\u00ebl van de Poppe in a post on X on May 25, the recent market correction of around 25% affected altcoins with a 50-70% correction. Van de Poppe stated that this cycle might bring the total market capitalization to $15 trillion, 450% of today\u2019s $2.7 trillion.<\/p>\n<p>The total capitalization of crypto-markets has oscillated in the range of $2. 9 trillion in mid-March and a low of $2.3 trillion on May 1, as per the data available on CoinGecko. This range-bound movement over the last three months has made the ground for further big movements as the market conditions change.<\/p>\n<p>With the altcoin market picking up pace and <a href=\"https:\/\/coinengineer.net\/blog\/trump-pledges-bitcoin-leadership-in-2024-campaign\/\">Bitcoin\u2019s<\/a> market share declining, the chances of a healthy altseason improve. The market is expected to have much movement in the forthcoming weeks, with analysts and traders on the lookout for the above changes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The altcoin market has surged, and this has led to new expectations of the onset of the altseason. Experts are abuzz with anticipation after the total altcoin market capitalization has risen recently and Ether is part of the total. Ether, one of the most popular altcoins, has risen by 27% over the past week and<\/p>\n","protected":false},"author":6,"featured_media":18905,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,1],"tags":[236,61,6343],"class_list":["post-21344","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-genel","tag-altcoin","tag-bitcoin","tag-btc-dominance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Altcoin Market Soars as Bitcoin Dominance Declines - Coin Engineer<\/title>\n<meta name=\"description\" content=\"The altcoin market surges with a 15% increase, as Bitcoin dominance declines. 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