Crypto Total Market Cap Excluding Top 10 Dominance, %CRYPTOCAP
Description
⋅
the top 10 alts excluding btc seem to experience a death cross soon. Death cross is always LAGGING, meaning that when it happens, the movement most likely already occurred (otherwise that would not be a death cross). Note that this is not a real death cross as the 200MA is positively sloped. Anyway the 50 one will likely go below it, after it breaks below the 100 as it is doing now.
What does it mean? The dominance decreases, meaning that they lose market share compared to btc: if it goes down, alts go down more. Can they go up less if btc increases? No, mrkt dominance for alts decreases only in bearish times, as when btc goes up it remains steady or increases due to euphoria on the crypto world. This reinforces the previous idea (linked below) of an imminent retracement.