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Coin Edition 2025-01-30 10:30:00

A 60% Bitcoin Dominance Could Shake Up the Altcoins Market – Analyst

A 60% Bitcoin Dominance Could Shake Up the Altcoins Market – Analyst

Benjamin Cowen has identified a scenario that could trigger altcoin market volatility. Bitcoin dominance above 60% could trigger a response from altcoins. The Bitcoin dominance metric is close to a crucial resistance. Crypto analyst Benjamin Cowen believes that Bitcoin’s dominance in the cryptocurrency market could soon trigger volatility for altcoins. In a recent post on X, Cowen highlighted Bitcoin’s current dominance level, forecasting a potential outcome and how it might affect the broader market. Probably see a spike back above 60% #BTC dominance soon. Not saying it will hold 60% for long before going back below it. You could even argue that for #ALT / #BTC pairs to get a relief bounce, first dominance may need to get that spike above the 60% threshold. pic.twitter.com/OlrUihTzkE — Benjamin Cowen (@intocryptoverse) January 30, 2025 At the time of Cowen’s post, Bitcoin’s dominance was 59.68%. Currently, that figure hasn’t changed much. Data from TradingView shows a slight decline to 59.61% in the relatively calm crypto market. Cowen suggests that 60% Bitcoin dominance could be the catalyst that sparks a shift in the crypto market narrative. Related:… The post A 60% Bitcoin Dominance Could Shake Up the Altcoins Market – Analyst appeared first on Coin Edition .

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