Altcoin Trading Dominance (%) at highest point since Jan '21 😨

Altcoin-Trading-Dominance-at-highest-point-since-Jan-21

It only has been 5 days since I posted a Quicktake* with Dominance By Volume. This is a graph that shows the relative trading volume of Bitcoin, Ethereum, and Altcoins. 

The message was clear: this is very concerning. And that view hasn't changed at all. 

In fact: I came to another shocking conclusion, namely:
🟢- Altcoin Dominance at fresh highs ~ 64%. It's at its highest point since Jan '21.
🟠- Bitcoin Dominance is at its lowest point ~ 16%. It's at its lowest point since Jan '21.

That's impressive on its own, but please notice how Altcoin Dominance (🟢) usually leads to lower prices, while sustainable rallies start with high Bitcoin Dominance (🟠). The chart included is a high-timeframe one, where this principle is very well shown.

* https://cryptoquant.com/quicktake/63b6c3fcc694b7554b14e686-Altcoin-trading-dominance-is-above-50-This-is-VERY-CONCERNING