The BTC Market Dominance

Hello everyone, I hope you're all doing well. In this time, the market when BTC has just come down from its new all-time highs at 124,000, it now trades around 117,000 to 118, 00 directed towards BTC. While other coins in the market are not getting a respectable portion of the money. p0. This has been a very productive cycle for a lot of people as many have held on to ethereum for a long long time. And a lot of people had also held on to BTC for a long time and both these people have enjoyed their benefits. Ethereum is still at a very good place trading above $4,500 but today, now that the downward trend is slowly picking up, I want to discuss the current dominance of BTC in the market.

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Now understanding the dominance of BTC in the market is quite important and it helps us understand where the market is currently standing and where most money is still flowing. A high BTC dominance will mean the money is still mostly being flown into a BTC account and other coins are not getting the same amount of inflows. In this situation, the price of BTC rises and the situation of other crypto tokens falters at least by a little bit. No, I'm moving back to reality. We can see in the charts that yes BTC has gained a lot of momentum but in the last couple of days it has also gone down. While the same cannot be said about ethereum. It has held its ground very strongly. To see trends are done, people are cashing out on the profits they made and now they're investing in the next big thing, Ethereum. Many do expect that ethereum tends to soar right after or a while after BTC. And currently it is happening that way. Ethereum is performing quite well while BTC is facing downward.

We will talk about the implications of market domination at a later date. But for now we should just understand how market domination works and maybe you can find the patterns in the market now if you understand it and maybe you can predict when could we expect the next wave of altcoins?