BTC dominance keeps making higher highs during a drawdown.


That’s not what an alt cycle setup looks like.
BTC dominance is sitting between 55.8% and 58.5% while total market cap has slipped to roughly $2.16T. Over the past week, BTC is down 4.7%. ETH is down 8%.
Alts aren’t leading.
They’re absorbing more pain.
This resolves one of two ways:
1. Dominance rolls over hard and capital rotates into alts.
2. Dominance keeps climbing because risk continues leaving the weakest parts of the market first.
Right now, the market is voting for the second outcome.
Everyone wants the alt season chart.
The market is still trading the capital preservation chart.
BTC2.82%
ETH2.84%
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