📈 Bitcoin Dominance (Update by request)

This is a reply I gave to @cryptoninja1998 in a comment, his question was the following:

"What are your thoughts on BTC dominance and the possibility of it turning back down (rejecting off 50% level), thus giving a push to the altcoins?"

First, I wouldn't focus too much on the BTC Dominance chart to look for a certain type of action on the "Altcoins" side.

The Altcoins is a set of Cryptocurrencies that ranges in the tens of thousands, and the "Altcoins" can grow in one way or the other while BTC Dominance does whatever it does.

The Altcoins are set to grow based on the normal market behavior, that is, if Bitcoin is really strong, everything stops and Bitcoin moves forward.
When Bitcoin takes a break the Altcoins move forward.

The Altcoins vs Tether pairs tend to move together with Bitcoin in groups with a slight delay.
Maybe the big ones move together with Bitcoin now while the others either consolidate or go into correction mode.
In another occasion the mid-sized ones move with Bitcoin and in yet another occasion the smaller ones.

Money enters the market through Bitcoin and from Bitcoin it flows to the Altcoins.

Since the market cycle is always changing/evolving to the next phase, the next time Bitcoin goes up, how it affects the Altcoins is not the same as when it happened in January this year or for example, it is also difference then when it happened back in July/August 2022.

This time when Bitcoin takes its break the Altcoins can grow really strong and recover weeks and sometimes months of correction in just a few days.
Those consolidating move ahead.

I would focus on each chart individually and just use the relation between the indexes and my desired pairs for the overall market view but not to know when to expect a certain move.

The truth is that they are just too many Altcoins to speak in general at this point.

The way that BTC.D affects Cardano, Floki, Namecoin, DigiByte, Monero, Stellar or Contentos is so different that we have to look at each one of these apart.

Let me know if that answers your question.

Namaste.