Understanding Bitcoin Dominance And ‘Alt Season’

Eurozone Inflation Higher than 1970s; Jumps to Record 8.1% in May

Eurozone prices marched higher in May, with inflation hitting an all time high for the seventh consecutive month as the ECB loses its monetary grip.

Technically speaking

Bitcoin Dominance & Altcoin Cycles

The Bitcoin dominance chart (BTC.D) is somewhat of a meme as it is not traded. Still, it reflects aggregated data that provides an overview of capital allocation and flows in crypto. As such, BTC.D can offer a rough estimate as to where Bitcoin and altcoins become attractive to buy or sell relative to each other.

Ethereum Eyes $2,200

Given the above backdrop, Ethereum/Dollar is understandably an inferior trade to Bitcoin. But here are the levels to watch regardless.

Litecoin Upside Capped at $250

Litecoin/Dollar closed a bearish monthly candle at $68, flipping the monthly super-trend to a sell-signal. Assuming the worst is over (it may not be) and that LTC/USD will range from here, it’s reasonable to expect the initial retest of the monthly-super trend to be met with strong resistance. Until this trend flips bullish, Litecoin is capped at $250 (nearly a 4x from current prices).

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Read More: Luna Token Falls 70% on Listing As Investors Check Out

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Chris on Crypto

Chris on Crypto

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Journalist-turned crypto-writer & analyst; forging the narrative, stacking sats.