【BTC dominance is at 60%—think the market is strong? I think the altcoin funeral has just begun】
When you see BTC market dominance at 60.2%, do you think BTC is crushing it and the market is safe?
I saw this number in 2017. BTC dominance was just as high back then, and everyone called BTC digital gold. Then, after that rally, altcoins lost 80% of their value. High BTC dominance has never been a sign of a strong market. Quite the opposite—it means money is huddling up for safety, and nobody wants the other assets.
A few recent signals are interesting: ETFs are seeing net outflows, some of the old money from 2013 has woken up and moved 34M, and the whales are pulling out. But the Fear and Greed Index is still at 59, and retail investors are still piling in. Isn’t this a classic case of “some people are running while others are buying”?
BTC is now stuck between 79,000 and 84,700, and trading volume is pretty anemic. Low volume means nobody is really building a position; everyone’s waiting. Waiting for what? For BTC to pick a direction.
Here’s the question: if BTC breaks upward, where will this pent-up capital go? In theory, it should flow into BTC. And then what? Then altcoins keep getting drained.
If BTC crashes instead? Even simpler—everything goes down, and nobody gets out unscathed.
So, you ask me how I feel about things right now? I have just one feeling: I’m watching the show. BTC moves independently 80% of the time; the other 20% is when it affects the whole market. We’re in that 80% now. I don’t care which way BTC goes; I care about when altcoins will finally make a little splash.
Do you still have altcoins in your portfolio? With BTC doing a solo act this time, can you still hold on?
When you see BTC market dominance at 60.2%, do you think BTC is crushing it and the market is safe?
I saw this number in 2017. BTC dominance was just as high back then, and everyone called BTC digital gold. Then, after that rally, altcoins lost 80% of their value. High BTC dominance has never been a sign of a strong market. Quite the opposite—it means money is huddling up for safety, and nobody wants the other assets.
A few recent signals are interesting: ETFs are seeing net outflows, some of the old money from 2013 has woken up and moved 34M, and the whales are pulling out. But the Fear and Greed Index is still at 59, and retail investors are still piling in. Isn’t this a classic case of “some people are running while others are buying”?
BTC is now stuck between 79,000 and 84,700, and trading volume is pretty anemic. Low volume means nobody is really building a position; everyone’s waiting. Waiting for what? For BTC to pick a direction.
Here’s the question: if BTC breaks upward, where will this pent-up capital go? In theory, it should flow into BTC. And then what? Then altcoins keep getting drained.
If BTC crashes instead? Even simpler—everything goes down, and nobody gets out unscathed.
So, you ask me how I feel about things right now? I have just one feeling: I’m watching the show. BTC moves independently 80% of the time; the other 20% is when it affects the whole market. We’re in that 80% now. I don’t care which way BTC goes; I care about when altcoins will finally make a little splash.
Do you still have altcoins in your portfolio? With BTC doing a solo act this time, can you still hold on?