Cryptocurrencies

    Bitcoin dominance decline fuels altcoin surge as Solana and Avalanche lead the charge

    Article Image

    Solana and Avalanche have seen near-parabolic growth, leading large-cap altcoins in price on 21 December, while Bitcoin's price hovers near $44,000.

    This comes after Bitcoin failed to secure the $45,000 level, which has been seen as a resistance level since 5 December.

    Bitcoin's market dominance has also pulled back from 53.95% to 53.17%, with altcoin market dominance increasing concurrently.

    A combination of a decrease in Bitcoin dominance and Bitcoin's price consolidation is typically perceived as a possible signal that altcoin prices could surge.

    Disclaimer

    Grafa is not a financial advisor. You should seek independent, legal, financial, taxation or other advice that relates to your unique circumstances. Grafa is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on the information provided directly or indirectly by use of this platform.

    Publisher
    Grafa