This break-out is quite significant and realistically potentially indicates a real turning point in the market.
Up until recently, it was still questionable whether BTC would find a bottom and may continue the Bull Run.
But after the carnage this week and the Luna catastrophe, the market has lost all momentum.
Alts are bleeding to nothing and BTC has become king again.
If we simply use this chart to gauge where we are at on the Macroscale, this highly suggests we are well underway into the 2022 Bear market.
Now it is important to understand the targets for the BTC Domanence as it will prove to be potential turning points.
The first target being 50% and the second target being 60%.
If we compare the last Bear Market in 2018, it wasn't until after BTC Dom reached 60% before it found a bottom.
Now I'm not saying it has to hit 60% again this time, but I am definitely targeting 50% from here. That is the next point of interest.
My Bearish sentiment doesn't just stem from Crypto, it reaches far out toward the broader stock market and enormous macro headwinds.
I can't possibly explain it all in this post to keep everyone's attention but if you check back through my previous posts, there are soo many Gems to learn from to navigate this environment.
Now is the time to LEARN and grow your knowledge so you can benefit from all this chaos later on.
Now is when success is made, not at the top of the Bull Run.
Why do you use Bitstamp? It is far from the top volume exchange.
NoOneWhoIsSomeone
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@TheCryptoNinja, Mainly because it offers a longer horizon than most other exchanges, so for this analysis that was best. No other particular reason than that, nor would an exchange with more volume change the analysis