Price analysis 11/23: BTC, ETH, XRP, LINK, LTC, BCH, DOT, ADA, BNB, BSV

Bitcoin (BTC) has been leading the current crypto rally for the past few weeks, and this has boosted its dominance from 56% on Sep. 3 to 67% on Nov. 18. However, as Bitcoin nears its all-time high, it seems to be losing momentum as the action shifts to altcoins. This has pulled Bitcoin’s dominance down to about 62.3%. 

No long-term bull market can be led by one leader alone. There are periodic rotations when the leader enters a consolidation or a minor correction while others take the lead. A similar rotation is currently playing out in the crypto markets, with Ether (ETH) and XRP leading the rally while Bitcoin digests its gains.

Daily cryptocurrency market performance. Source: Coin360

As the current bull phase matures and the commentary turns even more bullish, several traders who have missed a large part of the move may start buying the underperforming assets that were not swept up in the bull run.

This phase usually marks a top. Hence, traders can keep a watch on the underperforming coins. When they start flying, it could be a sign that it’s time to book profits and run with your money.

Let’s analyze the top 10 cryptocurrencies to determine whether the uptrend will continue or if a short-term correction around the corner.