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@kbrot can you elaborate a little on the significance of BTC dominance reaching between 50 and 55? It looks like it hit 49.9 just yesterday.
Sure! It’s the expected ceiling for BTC dominance in my mind, as dominance naturally increases during a bear. Alts (and in prior cycles, ETH) have outflows to safety in BTC (and now, unlike prior cycles, ETH).
Previously, 50-55% dominance was a large support/ resistance level, so I expect the bear inflows to BTC should top around there. Ben Cowen has a similar outlook, though he anticipates a slight overshoot to 60% is possible. I’ll make a quick video tomorrow illustrating these levels better too.
It’s important to remember the BTC.D chart is a sloooooow mover. It should take a few more weeks or even moths to hit the top. And the ratio will also likely suffer a bit when that happens, just less than in prior years I imagine. We really haven’t retested 0.05 as a base in a long time…
Looking forward to the video!