BTC.D (Bitcoin Dominance) Reached a very critical level of approx. 75% and we have seen a clear rejection, as well as a classic manipulative move of spiking above all previous levels.
I'm expecting further downside for BTC.D, especially considering the 1.618 extension level for BTC at 30k. BTC looks to be in its first retracement/reaccumulation phase of the larger trend taking us to 6 figures. While BTC price struggles between 45-30k, it's losing market dominance. This makes sense, BTC price struggles so investors look to take liquidity to other plays seeking upside.
Im expecting BTC.D to drop into the 50s range in the coming weeks. This is a major indicator for ALT Coins surging. The market cap lost by BTC will be taken by the Top Alt coins in the market.
The number one alt coin ETH has just broke its ATH and this has put us in the famous Price discovery zone. My targets are $2500 for ETH. The ETH/BTC Chart is also very bullish. As well as top ALTs/BTC. My favorite plays for this Q1 ALT season are all primed to gain strength against BTC. ADA, ETH, LINK, UNI, AAVVE, etc are looking very good to continue their bullish price action.