BTC Dominance - Why alts dumping was predictable... 🙄

13 thg 12, 2021

If you studied the BTC dominance chart you knew that the 40% market share for BTC was a key support.

Once hit, there was only one result... altcoins will bleed and now they are all in double digits red.

Bitcoin dominance has bounced of the support and now is moving higher. Yes, BTC price is also falling, but not as fast... hence BTC is gaining in market dominance.

This is usually the worst outcome in the market, where everyone loses. Just that BTC holders suffer less.

However, this dump is... uncharacteristically slow. We seem to go lower bit by bit... This is either a massive bear trap and we PUMP hard soon or the market will continue to bleed slowly until it finds equilibrium again.

There is no flash crash, no news, just... money exiting. So long BTC/ETH don't make a lower low, there is till hopium. If not, goblin town welcomes you.

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