• Bitcoin dominance is testing a two-year ascending trendline, risking a potential 17% decline if it breaks.
• BTC price is at $115,511 with a 7-day decline of 4.3%, trading between $115,259 and $119,415.
• Key dominance support zones lie near 54% and 51%, which may trigger increased volatility in altcoin markets.

The Bitcoin dominance chart is currently testing a significant ascending trendline that has held for nearly two years. This trendline represents a critical point for market dynamics, as dominance has recently retreated from a multi-month peak. At present levels, the chart shows a potential risk of breakdown, which could mark a turning point in broader market behavior. A failure to hold the current structure could lead to a decline of approximately 17%, as projected on the weekly timeframe.

Current BTC Price Movement and Key Levels

Bitcoin is already trading at $115,511 with a drop of 4.3 percent in the last week. Its 24-hour range is determined by a $115,259 support level and a resistance closer to the area of $119,415.

It is worth noting that Bitcoin currently holds the lead as the highest-ranked cryptocurrency based on market capitalization. Trading inside this range is also being considered because it may affect the level of dominance and the market as a whole.

BTC Dominance Wavers Near Key Support Trendline

The dominance trendline, originating from late 2022, has guided the market’s directional flow. Bitcoin’s share of total crypto market capitalization has consistently followed this rising structure, maintaining higher highs and higher lows. However, the latest weekly candles indicate weakening momentum near the upper resistance zone. A clear drop below this long-standing trendline would mark the first major structural shift in over 18 months.

Below the current trendline, dominance levels near 54% and 51% emerge as primary support zones. These areas previously acted as consolidation ranges during market rotations. A sustained move into these zones would align with the projected downside of 10.44 percentage points. Additionally, any dip could increase volatility across altcoin markets, as Bitcoin’s market share contracts.

Market Focus on Upcoming Weekly Closes

All eyes remain on the upcoming weekly closes, which will determine the strength of this trendline. A weekly candle close beneath the rising line would confirm a decisive break. Such a move would draw attention to the next lower support levels outlined on the chart. Market participants are closely monitoring volume spikes and price reactions around this pivotal level.