BTC Dominance Is Loving This Range
Yet again BTC Dom has bounced off this 40% support level - this can be interpretted many ways the most likely in this case is that BTC will likely be holding its cap (possibly even capital coming into it) whilst money drains out of the wider ALT market. With the USDT dominance looking like it might be dropping there could be a migration of ALT capital into BTC. Remember that when this happens this will "double" the impact of the BTC Dominance so not necessarily menaing that the Bitcoin price is going to fly....at all. Remember the dream scenario is always:
BTC Price Rise
ALT Market Cap Rise
BTC Dominance Fall
USDT Dominance Fall
Yet again BTC Dom has bounced off this 40% support level - this can be interpretted many ways the most likely in this case is that BTC will likely be holding its cap (possibly even capital coming into it) whilst money drains out of the wider ALT market. With the USDT dominance looking like it might be dropping there could be a migration of ALT capital into BTC. Remember that when this happens this will "double" the impact of the BTC Dominance so not necessarily menaing that the Bitcoin price is going to fly....at all. Remember the dream scenario is always:
BTC Price Rise
ALT Market Cap Rise
BTC Dominance Fall
USDT Dominance Fall
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.