Bitcoin is experiencing selling pressure after failing to break its all-time high, with the market currently in a cooling phase around the $103K-$106K range due to macroeconomic uncertainty and rising volatility.
Top analyst suggests Bitcoin dominance may have peaked for this cycle, potentially signaling a shift towards altcoin outperformance, with a focus on Ethereum and other key assets.
BTC price is hovering near $103,764 and facing a critical support level at $103,600, with a potential rebound if this support holds or deeper retracements if it breaks, as observed on the 4-hour chart.
The market is closely monitoring Bitcoin's price action and dominance trends to determine the next phase in the crypto market, amidst global tensions and uncertainty surrounding US-China trade tensions.