As you can see in the chart BTC Dominance above the important Resistance Zone that we have been talking about.
This is why your precious Altcoins are bleeding. BTC and ETH are still doing relatively well in the grand scheme of things.
Remember, when BTC dominance is high you buy alts, what comes up must come down. Before every major alt season BTC dominance had a pump, only to dump while Alt season was unfolding.
BTC and ETH dominance both might be breaking out to test 52-57% and 22-25% respectively. Personally i dont think BTC dominance will rise much higher than 52% unlike ETH that might reach 25% considering the BTC/ETH pair chart is looking good and the hype around ETH and layer 2 solutions still unfolding.
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50% broken, 52% next target
Best scenario is alts dont suffer, but unlikely tbh