The dusty roads of Crypto Valley were abuzz with the whispers of a prophet, Rekt Capital, a strategist with a following as vast as the California plains (543,100 strong on the platform X, no less). This modern-day soothsayer gazed into the crystal ball, foretelling the ignition of the next altcoin season.
Bitcoin‘s Dominance level, that omnipotent percentage of the total market capitalization, must begin its downward spiral.
The prophecy spoke of a specific threshold, a lofty 71%, to be reached sometime next year, though the exact date remained shrouded in mystery, leaving the masses to ponder like farmers awaiting the unpredictable rains.
“‘Will there ever be another Altseason?’ Ah, yes! The next time BTC Dominance decides to take a great big tumble, likely from the dizzying heights of ~71%.” 🤯
Rekt Capital further mused on the drastic changes in Bitcoin’s dominance levels compared to the last cycle, and how its monthly Relative Strength Index (RSI) – a fancy tool for predicting when the momentum train is about to derail – was higher than a kite in a hurricane.
“Bitcoin Dominance Monthly RSI is teetering on the brink of new, all-time high levels after successfully retesting November 2024 RSI (green) as support… because, why not? 🤷♂️
The Monthly RSI 60 (green), once the peak for Bitcoin Dominance in August 2019 and December 2020, has now become the floor. Because, in the immortal words of the great crypto sage, ‘This time is different.’ 😒
As the ink dried on these prophetic words, Bitcoin, the flagship of the digital fleet, sailed at $83,052, a 1.88% decrease from the previous 24 hours – a minor turbulence in the grand tapestry of crypto’s wild west.
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2025-04-04 23:02