Bitcoin's dominance in the cryptocurrency market continues to exert pressure on altcoins, with several large-cap cryptocurrencies experiencing significant declines. Cardano (ADA) and Avalanche (AVAX) have both reached new yearly lows against Bitcoin, with Z-Scores of -1.56 and -1.20, respectively, indicating strong bearish trends.
Chainlink (LINK) and Dogecoin (DOGE) have also confirmed breakdowns below trend support levels, with Z-Scores of -1.01 and -0.96, reflecting worsening risk-off conditions. In contrast, XRP shows relative strength with a Z-Score of 0.74, maintaining its position near the upper bound of the neutral zone. Despite some resilience from XRP, altcoin bulls remain challenged as Bitcoin continues to outperform its large-cap peers.
Bitcoin Dominance Pressures Altcoins as Cardano and Avalanche Hit Lows
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