Bitcoin Dominance Falls as Altcoins Eye Momentum After Analyst Warns of Dead Cat Bounce
BTC/USDT
$17,366,629,629.18
$71,554.95 / $68,531.50
Change: $3,023.45 (4.41%)
-0.0023%
Shorts pay
COINOTAG News reports that analyst Matthew Hyland links bullishness in altcoins to a persistently weak Bitcoin dominance backdrop. He contends the downtrend remains intact, and recent rebounds may be a dead cat bounce rather than a structural reversal.
Hyland asserts that Bitcoin volatility could reflect deliberate moves by large institutions. “In the past month, my view hasn’t changed—I see manipulative dynamics with Wall Street setting the stage,” he said. Bitcoin dominance has slid roughly 5% since May.
On November 4, the Bitcoin price dropped below $100,000 for the first time in four months, fueling BTC-centric sentiment. Yet Hyland sees potential for an altcoin rally, while metrics keep focus on BTC. The Altcoin Season Index sits at 28/100, signaling a “Bitcoin Season” regime.