Bitcoin\'s Dominance Is Rising, but Altcoins Are Showing Some Positive Movement Too

Bitcoinprice is expected to rise, attracting investment away from altcoins and causing their prices to fall. While altcoins are expected to decline in the short term, they could recover and even overtake Bitcoin in the long term .

But what exactly does this mean for altcoins? Are they doomed to fail in the face of Bitcoin's dominance? Let's dive deeper into the predictions and analysis.

Looking at the Short-Term

Initially, altcoin prices may show slight recoveries, as suggested by CrediBULL Crypto. However, these upticks are expected to be brief, especially for major players like Solana, Chainlink, and prominent memecoins. These coins have been grappling with persistent selling pressure and market volatility.

CrediBULL Crypto anticipates that Bitcoin's anticipated breakout from its current price range will attract significant investments, diverting attention and capital away from altcoins. While some altcoins may eventually follow Bitcoin's upward trajectory and potentially outperform it, this recovery is likely to unfold gradually. In the meantime, certain altcoins may experience further declines before stabilizing.

Insights from Market Experts

Michael van de Poppe, a well-regarded crypto trading expert, recently highlighted key developments on the X platform. He noted a strong recovery in Bitcoin prices from recent lows, accompanied by modest gains in altcoins. As a slight decline in Bitcoin's dominance also hints at shifting market dynamics, signaling an nuanced phase for crypto investors.

Relatively strong bounce on #Bitcoin from the range lows. #Altcoins are up even more since that level. Bitcoin dominance starts to fall slightly, through which the Mt. Gox even starts to get priced in.

Chart: , the dominance of altcoins outside the top 10 has slightly

Bitcoin is currently trading at $60,769.45**, marking declines of 12.4% over the past month, 7.5% over the past week, and 3.1% in the last 24 hours. Meanwhile, Solana trades at **$133.88, with a 30-day decline of 19.0%, a weekly decrease of 2.1%, but a daily increase of 6.55%. Chainlink is WIF is priced at **$1.83, with declines of 40.1 % over the past month, 11.8% over the past week, and an increase of 15.8% in the last 24 hours.

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