Bitcoin dominance drop and resistance at $55K stoke altseason hopes
Ethereum's new all-time high, a drop in Bitcoin’s dominance rate and overhead resistance at $55,000 have analysts predicting that an altcoin season is at hand. The overall cryptocurrency market saw a second day of gains on April 27 after the weekend sell-off proved to be a good buying opportunity for retail and institutional investors. Lower gas fees following the Ethereum network's Berlin upgrade along with an increase in institutional buying and decentralized finance activity lifted the price of Ether to a new all-time high at $2,680. Data from Cointelegraph Markets and TradingView shows that Bitcoin (BTC) climbed above $54,000 in the early trading hours on Tuesday and bulls are now aiming to break through the $55,000 resistance level for a possible rally to $58,000.
Coin Telegraph - 27th Apr 22:04