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

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.