100-BTC.d represents Alts dominance, and if 28.9% key level is broke, alts dominance will fall dramatically, hopefully only to 20% but can reach 10%.
The majority of BTC pairs have fallen while BTC has risen. This implies that capital is being taken out of Alts and pumped into BTC. Some alts have faired very well vs. USD, like ETH, Theta, dot and unusually LTC. XRP did very good at first but as everybody knows all gains were erased. XRP dramatic fall might contribute to the fall in Alts, especially LTC which is considered a legacy like XRP.
The market is in bull mode, but even in bull markets there are pullbacks. And I speculate based on some parameters like gold and the dollar that the crypto market as a whole will have a pull back with capital taken out of ALTs faster than BTC.
Another scenario for ALTS dominance falling is that capital will be pumped into BTC faster than ALTs maybe because of retail buying BTC with their stimulus check and institutions fomoing in.
The conclusion is that Alts season is not here yet and besides a handful of Alts, Alts are not worth investing in at the moment.
The majority of BTC pairs have fallen while BTC has risen. This implies that capital is being taken out of Alts and pumped into BTC. Some alts have faired very well vs. USD, like ETH, Theta, dot and unusually LTC. XRP did very good at first but as everybody knows all gains were erased. XRP dramatic fall might contribute to the fall in Alts, especially LTC which is considered a legacy like XRP.
The market is in bull mode, but even in bull markets there are pullbacks. And I speculate based on some parameters like gold and the dollar that the crypto market as a whole will have a pull back with capital taken out of ALTs faster than BTC.
Another scenario for ALTS dominance falling is that capital will be pumped into BTC faster than ALTs maybe because of retail buying BTC with their stimulus check and institutions fomoing in.
The conclusion is that Alts season is not here yet and besides a handful of Alts, Alts are not worth investing in at the moment.
