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BTC Holds Above 100K While Altcoin Season Sparks Momentum Shift
By: cryptosheadlines|2025/05/16 06:15:06
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Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Bitcoin consolidates above 100K while trading within a daily Fair Value Gap as traders await key macroeconomic catalysts.BTC dominance drops below 65% with technical signals confirming weakness, potentially setting the stage for a strong altseason run.Market structure and volume trends support BTC’s bullish outlook despite short-term consolidation near major resistance zones.Bitcoin (BTC) is showing signs of short-term consolidation while altcoins may soon take center stage. Currently, BTC trades around 101,932 USDC, sitting within a daily Fair Value Gap near 100,700. This critical zone may act as support. Additionally, traders await the Core PPI data release and Jerome Powell’s speech, both expected to spike volatility. Technical indicators show BTC maintaining a bullish structure. Meanwhile, a major development in Bitcoin dominance suggests altseason could be underway.Bitcoin Holds Strong Above 100K Despite ConsolidationSince April, BTC has surged from 76,000 to 101,932 USDC on BitGet’s one-day chart. The price formed a strong uptrend. Late April’s breakout above 88,000 ignited momentum, pushing prices beyond 100,000 in early May. However, recent candles show smaller bodies, suggesting reduced volatility after the surge.Source: Titan Of CryptoBesides, Bitcoin currently trades within a Fair Value Gap, a technical zone reflecting potential price equilibrium. This gap spans the 100,700 to 105,800 range. Notably, the price formed an inside bar pattern at 105,800, signaling short-term indecision. However, moving averages confirm bullish momentum. The shorter-term pink MA remains responsive. The longer-term blue MA continues its upward slope.Moreover, support levels lie between 94,000 and 96,000. Resistance remains firm near 105,800. Market structure still shows higher highs and higher lows, reinforcing the uptrend. Volume also supports bullish sentiment, especially during breakout zones.Bitcoin Dominance Falls as Altseason Pressure MountsMeanwhile, Bitcoin dominance (BTC.D) just closed below key support at 65%. This move highlights a bearish wedge breakdown. Technical indicators like SRSI and RSI confirm weakening momentum. Stochastic RSI is trending down while RSI faced rejection at resistance.BTC dominance currently sits at 46.41%, down 1.73% on the weekly timeframe. The long-term chart shows a wedge pattern forming since 2020. Historically, such patterns resolved into altseason phases. Previous altseason began when BTC.D dropped during a rapid six-month decline.Source: Crypto CrewAdditionally, major support levels now appear at 57.06%, 52.54%, and 44.40%. Resistance stands near 70%. The forecast suggests a continued drop in dominance until mid-2025. This would mirror past cycles and favor altcoin rallies.Source link
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