Both BTC and BTC dominance are plummeting - what does that tell you?

[sergiorus]

So as BTC experienced a rapid correction from $82,000 to $67,000, its dominance also fell of the cliff, even though all altcoins experienced a serious drawdown as well.

Turns out overall state of altcoins is currently stronger than that of Bitcoin (and as a result, we could expect a stronger bounce from the alts during the recovery)?
Or are there other explanations?

[Oshosondy]

This is a very good post, but that chart is not need because the altcoins also fall recently but not significantly. Bitcoin marketcap has fallen to 57.83% from 60% that it was recently. It also fall from 62% which it was this year.

If the fall will continue, it is possible that the altcoins will follow and it will be massive for the altcoins, but I also noticed that the altcoins did not really fall this time.

The bull run always start with bitcoin, it is followed by the altcoins. We have seen signs already the next season may have altseason.

[Ndabagi01]

The altseason have been very much anticipated for and many altcoin investors have been waiting patiently for that to happen even though some of them already lost hope in the market trying to recover back from the fall. The bitcoin dominance has really not been encouraging which may give more hope to altcoins to dominate the market more after this massive market dump is over.

It is not too late for a pump to happen in the market now, it is very much still early even though the end of the bullish market looks to be over after the last cycle of halving was over. We are well anticipating for what the market outcome will be from this point but remaining optimistic for the altcoin season to also actualise is the key possibility here.

[BitMaxz]

Turns out overall state of altcoins is currently stronger than that of Bitcoin (and as a result, we could expect a stronger bounce from the alts during the recovery)?
Or are there other explanations?

Since alts are more volatile than BTC, they may bounce more strongly than BTC.
Keep in mind that BTC is expensive; altcoins are cheaper. That's why the volatility from altcoins is higher than BTC.

For now we are currently bearish; the retracement level, or the bearish golden zone, has already been filled. If you monitor the price from last year until February, you will notice that it is similar to what is happening now.

[BitBakerr1]

Turns out overall state of altcoins is currently stronger than that of Bitcoin (and as a result, we could expect a stronger bounce from the alts during the recovery)?
Or are there other explanations?

Since alts are more volatile than BTC, they may bounce more strongly than BTC.
Keep in mind that BTC is expensive; altcoins are cheaper. That's why the volatility from altcoins is higher than BTC.

You are correct, aIts are actually more volatile than bitcoin and they are also very cheap, and this is one of the reasons why they can actually bounce fast and strongly than bitcoin.
Since aIts are cheap and also highly volatile a lot of traders prefer trading aIts than bitcoin, traders can make huge amount of money from aIts faster than they can with bitcoin if they are lucky or get their calculations correctly, all this thing are the reasons why aItcoins may always bounce more strongly than bitcoin.

[sergiorus]

Turns out overall state of altcoins is currently stronger than that of Bitcoin (and as a result, we could expect a stronger bounce from the alts during the recovery)?
Or are there other explanations?

Since alts are more volatile than BTC, they may bounce more strongly than BTC.
Keep in mind that BTC is expensive; altcoins are cheaper. That's why the volatility from altcoins is higher than BTC.

For now we are currently bearish; the retracement level, or the bearish golden zone, has already been filled. If you monitor the price from last year until February, you will notice that it is similar to what is happening now.

Exactly. Altcoins are more volatile, so they bounce harder because they also dump harder than BTC during corrections.
This time we don't see that, altcoins are holding stronger. But maybe it's the low base effect since altcoins have been dumping much harder than BTC for many months and already dumped way too low.

[coinlary]

Well, that more like a classical blood bath. Sucks to check dem charts these days but hey , it's  only for a while maybe a little bit  ride into the dipper leg of the bear market  I hate bears.

I don't  get it when you said altcoins, Which altcoins?  The ones that are already down for months ? I don't expect them.to take more hit at the moment unless they want to go bullish.

They were also affected though but the difference is a bit higher for BTC .

Stronger bounce ? No, unless it a short one follow by  a bigger dump.

[Alphakilo]

Turns out overall state of altcoins is currently stronger than that of Bitcoin (and as a result, we could expect a stronger bounce from the alts during the recovery)?
Or are there other explanations?

Since alts are more volatile than BTC, they may bounce more strongly than BTC.
Keep in mind that BTC is expensive; altcoins are cheaper. That's why the volatility from altcoins is higher than BTC.

For now we are currently bearish; the retracement level, or the bearish golden zone, has already been filled. If you monitor the price from last year until February, you will notice that it is similar to what is happening now.

Altcoins are truly more volatile than Bitcoin and I think the best way to know the strength of altcoins, is if they can outpace BTC on those green days that would definitely come when Bitcoin bounces upwards.
Stablecoin inflows are responsible for this dip and that's why it seems that altcoins are winning or about to, but as you have noted from history data, there's always a point where Bitcoin stabilizes and takes a bullish turn.
Now is the best time to accumulate more Bitcoin instead of trading away at altcoins looking for returns that may be high leverage risk to begin with.

[EL MOHA]

The altseason have been very much anticipated for and many altcoin investors have been waiting patiently for that to happen even though some of them already lost hope in the market trying to recover back from the fall. The bitcoin dominance has really not been encouraging which may give more hope to altcoins to dominate the market more after this massive market dump is over.

Alt season in a bearish year? I think that’s a very huge optimistic prediction for Altcoin because I am not actually seeing anything close to alt season as long as bitcoin hasn’t created any all time high or get pass the $100k price target because that’s when you will actually have the entire market sentiment been bullish.

Right now I don’t understand why its actually said that Altcoins are stronger than Bitcoin at the moment, they are basically following bitcoin trend still, for example bitcoin is -5% down for the last 24 hours, all the other Altcoins most especially the top ones are actually down with same percentage or even more. So I don’t see the strength of altcoins in fact I will say that some of them will actually even go way worse if bitcoin continues to fall