Crypto Market is full of uncertainties, and has multiple variables at the play which make it one of the most volatile markets. There are multiple indicators which can be used to see the crypto market in different perspectives. For example, on chain data like whales movement, institutional data like CME gaps and investments and many more. But one for all, the aggregation of all these indicators, can be seen through the movement of Bitcoin Dominance. There is no doubt Bitcoin is still the most dominant crypto currency and is the driving force of entire crypto space. So that makes Bitcoin Dominance one of the best tools or chart to look and analyse into to predict the upcoming moves. In this short article, we will look into Bitcoin Dominance, it's current status and how it can play out. So, let's dive into it...!! 

General Bitcoin Dominance Understandings 

Before looking and analysing current status of Bitcoin Dominance and getting directly into the charts, let's first understand how Bitcoin Dominance is significant in crypto space and what are the meanings of its multiple movements. 

So, a low Bitcoin Dominance means Altcoin market is dominant and the Bitcoin is weak compared to Altcoin, so most probable market move would be to see where Bitcoin Dominance finds its support and how it'll get it's dominance back. And while this re-establishing the dominance, entire Altcoin market would bleed red! 

And in contradictory to the above situation, if Bitcoin Dominance is already in good position and it is seen on the chart that it'll break means that the Altcoin will acquire the dominance over Bitcoin. And in such scenario, we will see the Altcoin season, a drastic movements in Altcoins. 

Now it is important to consider these are the general understandings of Bitcoin Dominance and as nothing else in the market, especially in crypto market is hundred percent sure, this also not! But one thing you should always remember that the money flows in following manner in the crypto space- 

Bitcoin -> Ethereum -> Altcoin 

This is generally the flow of capital in crypto space during bull run. You should always capitalize over this, and act before the crowd does. 

Current Bitcoin Dominance Chart 

Now that we have the basic understanding of what is the significance of Bitcoin Dominance and how does it help us to predict the upcoming market moves, let's look into the current chart of Bitcoin Dominance and see how things will possibly play out. 

Above is the current 12 hr chart of Bitcoin Dominance, which clearly shows that it is moving in a channel as shown in the above chart. Here if you zoom in, then you'll see that the dominance is below average of the channel, which was previously tested twice and broken recently. Currently, Bitcoin Dominance is about to test it's average of the channel (middle line) and it'll be great to see how things will play out. 

If the dominance fails to break out the average line and get rejected at that level and falls below, in that scenario Altcoins will keep moving upwards and get some green candles in upcoming days. This scenario can be overalaped with the Altcoin charts and see that these coins are at critical support. 

Conclusion

Bitcoin Dominance is one of the most fundamental indicator that every trader as well as crypto investor should keep eye on, mostly in longer timeframes. Even doing some basic analysis will help you to find out some amazing patterns in Bitcoin as well as all crypto market. 

Hope you find this article interesting, and informative. If yes, then do follow me for more such crypto content. 

Thanks for your time...!! 

Reach out to me on X - @Ashma1818