TheBrko

BTC.D - Bitcoin dominance stays intact despite market dump

Long
CRYPTOCAP:BTC.D   Market Cap BTC Dominance, % (CALCULATED BY TRADINGVIEW)
Despite 2 weeks long downwards market direction, BTC Dominance continue to drop lower.

It seems that capital from alts during the dumps goes to stable coins as Bitcoin capital. Bigger alts players are down almost the same % as BTC .

Chart setup is intact and the more time passes it more confirms that this bull market will continue thru Q1 and probable at least part of Q2 of 2022.

This is weekly chart and you can see that dominance isn't making any huge moves when you compare it to last bull market. Fastest dominance movement in this bull market was March-May move.

In last bull market confidence in the altcoin was low (even for Ethereum , BTC maximalist were much more numerous, not to mention other alts). Today some analysts even predicts that ETH will flip BTC at No.1.

Many novel trader are not interested in BTC because of lower price rise possibilities (3-4x from current price is great ROI but in crypto most of trader are to greedy). Since alts reputation has risen, they are risking much more with them and also there are much more true holders of altcoin. Well, what that all means?

In last bull market alts suffered much more when BTC dumped then this cycle and again when BTC rise they bleed in alt/ BTC pairs. Practically it was impossible to hold coin without massive dumps.

Something is different this cycle. For example, last dump from recent ATH:

BTC: -22%
ETH: -19% (also notice that ETH has much bigger daily wick then BTC )
BNB: -15%

Maybe this time maybe we could see BTC market peak and alts peak at the same time. If something happened in last cycle it doesn't mean it will happen again!

BTC .D chart with some onchain data (Net Unrealized Profit/Loss (NUPL), Number of Active Addresses (short and long MA-s), Fear/Greed index etc.) are great indicators to determinate when is time to sell.