Bitcoin Dominance Signals Potential Reversal, Rising Wedge Structure Appears

Bitcoin dominance currently stands at 57.64%, forming a rising wedge pattern on the chart. This technical indicator is often interpreted as bearish, mirroring historical patterns that led to significant altcoin rallies. The Relative Strength Index (RSI) also exhibits bearish divergence, indicating price action outpacing the indicator’s progress, a pattern reminiscent of 2021’s dominance reversal.