- Bitcoin dominance is gaining momentum, with RSI 60 signaling upward potential.
- A move above 63.96% could signal further Bitcoin dominance expansion.
- Bitcoin will reach $200K in 2027, and a huge rally is on the way.
Market experts have been talking of Bitcoin dominance for a while now. While Bitcoin dominates the cryptocurrency space, market analysts continue offering new insights regarding its operations and destiny.
Bitcoin Dominance and RSI Indicator
Bitcoin dominance, or the proportion that Bitcoin holds of the total cryptocurrency market capitalization, has fluctuated during cycles in markets. A sound measure, the Relative Strength Index (RSI), is significant in tracking Bitcoin dominance.
According to Rekt Capital, the Monthly RSI at 60 has historically marked the peak in previous cycles. This level represented the ceiling for Bitcoin dominance in August 2019 and December 2020. Rekt explained that in this cycle, the Monthly RSI at 60 now acts as the floor, suggesting that Bitcoin’s dominance is poised for an upward movement.
Source: Rekt Capital
In his analysis, Bitcoin’s dominance has been steadily increasing since mid-2022, as shown by the blue ascending trendline. The breakout above key resistance levels indicates that Bitcoin is likely to outperform altcoins, strengthening its dominance in the market.
Rekt mentioned that a sustained RSI above 60, a level not reached in previous cycles, suggests strong market momentum without excessive bullish conditions. He identified 63.96% as a critical resistance level, and a move above this point could signal further Bitcoin dominance expansion.
Projected Bitcoin Bull Run: Lofty’s Insights
Lofty, another popular analyst, had something to say about Bitcoin’s price action, particularly an upcoming bull run. He predicted that Bitcoin could reach $200,000 by 2027, with a massive bull market beginning in April of 2025.
He went back to Bitcoin’s price action since 2015, explaining how it always had an upward-going green trendline. Bitcoin’s price dipped below the trendline during corrections and was followed by strong recoveries that pushed it above previous highs.
Source: Lofty
The long-term framework remains valid, Lofty believes, and Bitcoin’s path will trace the older cycles. Bitcoin’s price can surpass its former all-time highs shortly, reiterating the target forecast of $200,000.
Lofty pointed out that, given the current trajectory of Bitcoin, the crypto asset is poised for another massive rally, restoring confidence in the long-term growth of Bitcoin. The move could come sooner rather than later, as Bitcoin remains within a critical breakout zone.
