BTC.D at the 100-Week SMA: The Level That Decides the Cycle?Market Cap BTC Dominance, %CRYPTOCAP:BTC.DtradeParagonBTC Dominance (BTC.D) is testing the 100-week SMA — the line that has acted as a structural pivot through every cycle since 2020. In 2021 it rejected from below at 73%, sending dominance into a 30-point decline. In 2023 the same line was reclaimed, marking the start of the institutional bid that ran dominance to 66% by mid-2025. Now it is back — this time as support from above. The level has held twice in recent weeks. A third test is in progress. The bull case for BTC.D The 100W SMA is being defended. Successful holds at this line have historically marked continuation — the same pattern showed up in 2023 before the 14-point run higher. ETF inflows, treasury demand, and a thinner list of liquid alts continue to favor BTC over the rest of the cap table. A weekly close back above 62% reopens the prior 65–67% range. The bear case for BTC.D Dominance has stalled at the same line that capped the 2021 rejection. A weekly close below the 100W SMA (~59.5%) would invalidate the support narrative. A close below 54% confirms the rotation the chart has been hinting at — a move that historically broadens into the rest of the market within weeks, showing up first in OTHERS and then in TOTAL2 Levels to watch Resistance: 62% overhead, 65% prior swing high Support: 100W SMA (~59.5%), 54% rotation trigger, 50% structural