Bitcoin Dominance Surpasses 50% For the First Time in Two Years

Within a two-year span, Bitcoin's (BTC) market dominance surpasses 50%, coinciding with a notable price increase to $30,800.

Traders are now eagerly anticipating a reversal that would signal the beginning of a local alt season, granting altcoins more freedom as most of them have recently hit their lowest points.

After a potential price correction, Fibonacci retracements suggests a target nearing the $2,900 mark. However, this scenario is contingent on the confirmation of a bullish trend, which is only expected to occur after breaking the previous local high at $2,150.