Total crypto market capitalization has held the $200 billion mark for the past few days. This is a positive sign, as it shows that market participants are not panicking at lower levels but are using dips to buy. The first leg of the bull phase was led by Bitcoin, which saw its dominance rise from just above 50% at the start of the year to about 71% in early-September.
In the last few days, the action has been gradually shifting to altcoins, which can be seen from the gradual decrease in Bitcoin’s dominance, which is down to 66.7%. This increases the possibility that the next leg of the uptrend might see outperformance by select altcoins.
If dagx.live traders team assumption proves to be correct, altcoins offer an excellent buying opportunity because most of them are still well below their 52-week highs. Let’s see if we can spot any reliable buy setups in the major cryptocurrencies.