maartunn
Altcoin Trading Dominance (%) at highest point since Jan '21 ๐จ
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: ๐ข- Altcoin Dominance at fresh highs ~ 64%. It's at its highest point since Jan '21. ๐ - 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 (๐ข) usually leads to lower prices, while sustainable rallies start with high Bitcoin Dominance (๐ ). 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