Recently, the Crypto Assets market has shown a relatively calm state. As the market leader, Bitcoin is hovering around the bottom area of a bull run flag, while other Crypto Assets are generally in a Sideways consolidation or downward trend. However, there are undercurrents in the market, and once a reversal occurs, non-mainstream Crypto Assets may welcome a more considerable rise in space.



The market dominance of Bitcoin has been an important indicator for analyzing opportunities in other Crypto Assets. According to recent data, Bitcoin's dominance has continued to decline since reaching a high of 66%, now forming a typical bear flag pattern. Although prices are still creating new highs and lows, considering the resistance above, this downward trend may accelerate in the short term. Market analysts predict that the next support level for Bitcoin's dominance may be around 60%, and if the bear flag pattern develops fully, it could even drop to 57%.

From a longer time frame, the weekly chart of Bitcoin's dominance shows that a long-term uptrend line has formed since 2023. This trend line acts like a canary in the coal mine; once breached, the likelihood of Bitcoin's dominance dropping to 57% will greatly increase.

At the same time, the Total3 indicator (representing the total market capitalization of all Crypto Assets except Bitcoin and Ethereum) is showing a bull run flag pattern and has signs of breaking upwards. This indicator is seen as an important barometer for measuring the performance of non-mainstream Crypto Assets. Short-term charts indicate that the likelihood of Total3 breaking the upper boundary of the bull run flag is much greater than breaking the lower boundary, which means that the altcoin market may soon welcome a wave of rise.

It is worth noting that there is a strong horizontal support zone not far below the Total3 indicator chart, which provides strong support for the formation of a bull run flag pattern. In addition, changes in market sentiment, the emergence of new projects, and ongoing innovations in areas such as decentralized finance (DeFi) and non-fungible tokens (NFTs) may all become potential factors driving the activity in the non-mainstream Crypto Assets market.

Nevertheless, investors should remain cautious about market trends and manage risks effectively. The high volatility of the Crypto Assets market means that situations can change at any moment, making it crucial to continuously monitor market dynamics, project fundamentals, and changes in the regulatory environment. In this market filled with opportunities and challenges, maintaining rationality and patience may be the key to success.
BTC1.34%
ETH0.1%
DEFI-0.91%
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¯\_(ツ)_/¯vip
· 08-08 03:34
Alts have finally come to us.
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MechanicalMartelvip
· 08-06 23:06
Altcoin is a tumor.
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AltcoinAnalystvip
· 08-06 12:51
The Total3 indicator is about to break out, need to increase the position to guard against black swan events.
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SilentObservervip
· 08-06 12:51
The opportunity to buy the dip is coming soon.
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MemeTokenGeniusvip
· 08-06 12:51
Alts are about to To da moon again, brothers.
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DegenDreamervip
· 08-06 12:49
If you can't afford it, don't touch altcoins.
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SolidityNewbievip
· 08-06 12:30
The ones going down the mountain are broiler chickens, and the ones going up the mountain are all tigers.
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