Altcoin Market Cap Squeezed Below Key Resistance Level
According to market analyst Daan Crypto Trades, the April bounce has brought some short-term relief, but altcoins are still far from reclaiming previous highs.
Despite Bitcoin recently notching new all-time highs, the broader altcoin space has failed to follow suit. This divergence suggests lingering risk aversion among investors, particularly as liquidity concentrates in outperforming tokens rather than lifting the market as a whole.
Bitcoin Dominance Stalls Altcoin Progress
One of the main headwinds for altcoins, according to the report, is the persistently high Bitcoin dominance, which remains near cycle peaks. Historically, altcoins tend to thrive only after a sustained drop in BTC dominance—a condition yet to materialize.
Daan emphasizes that as long as Bitcoin maintains its dominance, only select altcoins are likely to see meaningful upside. Broader altcoin performance will remain muted unless BTC consolidates or retraces, opening the door for capital rotation.
Conclusion
For the altcoin market to regain momentum, a clean break above the $840B level is essential. Until then, the current range may persist, limiting upside and keeping traders focused on isolated outperformers rather than a full sector rally.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
