Opinion: BTC dominance shows that Alt season hasnt come yet
Throughout this bull run we have seen a big lead in the gains generated by BTC compared to a lot of altcoins.
Bitcoin dominance reached 73% after ehich it peaked and has come doen to about 60-63% percent for the last 6 weeks. We have NOT even broken 60% yet. What will happen when that does happen is possibly an increasing amount of alts will start pumping more and more and possibly as it happened in the previous run we might see BTC dominance go as low as 40 or even 30%. This was our last rebound area after which BTC d. started recovering.
This of course remains an opinion and there is no indication by any means that the pattern will repeat. It could even be we never see a BTC dominance below 60 because of the institutional money inflow. Honestly i think this is highly unlikely, nevertheless we need to be open for everything and have a plan for each playout.
At thr moment i would love to see Bitcoin consolidating between 58K and 54K in order for alts to take the chance and start lifting off for a solid week or two.
Trade happy, stay healthy and avoid echo chambers. This is the wild west amything can happen.🤠