BTC faces off with $50,000 USD. What is Bitcoin Dominance telling us about Alts?

Hi everyone, welcome to a Monday at Rapid Fire. Just under 50, 000, exciting times. We’re running into a pretty heavy selling block area, so this is going to incentivize sellers to come back into the market at 50, 000. So just be careful something like this doesn’t play out. On the weekly though, that weekly candle, Is God tier that just erases all this price section on the left hand side, except that week up to 59 or 49,000 on the ETF.

But we are just under resistance. So it’s an interesting spot where sellers are gonna re engage in this level. We’re not gonna crack the 50 K in my view, you know, straight away. That’s gonna be a really tough level to crack if we do. Oh my goodness. Look out. But I think we just have a bit of volatility to the downside here at some point too.

It just looks so rosy right now. There’s a lot of euphoria about it. A lot of people are a bit annoyed they’re stuck on the sidelines too, so you have to balance that up. But I do expect  things to cool off a little bit here and that could be really, really great for altcoins. I don’t know if we get this move down to 38, 000.

I think it’s probably invalid at this point as long as we’re closing above that 46 area. But it just has to be in the back of your mind. Bitcoin dominance, I mean, just look at this. It looks like it wants to career towards that 61 percent mark. So as long as Bitcoin is in control here, expect altcoins to be subdued.

I think above 50, 000, all hell is going to break loose in altcoins, especially when we find a base. We came, and I used that on Twitter. I said when we find a base on top of 50, 000, that means that we’ve gone up, we’ve come back, test resistance turns into support. Soon as that happens, altcoins are just gonna fly, in my view.

And also Bitcoin dominance here, again, still massively in control, altcoins are gonna have a hard time running with this you know, as it is. But that said, rising tide lifts all ships. A lot of these altcoins are moving higher. But I will just point out, if you are not outperforming Bitcoin, what are you doing?

So you could just have sat on your hands and just owned Bitcoin and made all these gains versus you know, over trading short term stuff and altcoins, but they’re not outperforming Bitcoin. So again, what is the point? So you have to have that insight in the market as well. You need to know where your capital is best put to good use.

And right now, The FA situation on Bitcoin is utterly insane, let’s just put it mildly. So it overtook, the new 90 ETFs overtook MicroStrategy this week. That is how insane the buying power has been of late. I expect the 90 ETFs to be as big as Grayscale within a few months. At this current pace, doesn’t mean they will be, but in their inflows grew so that’s a really strong sign as grayscale subsides  look at these figures as well i mean blackrock ability alone it’s not going to take you know six months for them to just between two of them to own as much as grayscale absolutely well so let me just have a quick look at solana because a lot of old coins look like this they’re actually still looking really really good Underneath resistances there, they’re making these higher highs and higher lows.

See here, Solana up there, down there, so really nice up trending structure forming here. Once this little pullback is done on Solana, I think we can expect her to go higher.  Bitcoin obviously has to either stay range bound or, you know, not have a mega dump, because if Bitcoin has a mega dump here, I think altcoins get hit over the head quite hard, and if they don’t, look out, because they’re going to run.

So ideally, the scenario for altcoins here is for Bitcoin to just get, you know, sort of stopped here between 48, 000 down to 46, 000, and it just oscillates and goes sideways and just stays like that. Altcoins will then  get a lot of inflows, in my view, and dominance can maybe cool off a little bit, but until then, this is a Bitcoin driven market.

And I’ll probably leave you with that. Really, really exciting time to be in the market. It’s really cool. Highlights for me the saying and I wasn’t just saying it for the sake of making everyone feel better in the in the bear market I mean there was a little bit of that but you know laying  Laying the seeds in the bear market to bear fruit in the bull market You just you haven’t seen what this thing’s capable of unless you’ve experienced one of these markets before and I think we’re just getting started When you look at the monthly chart, sometimes you just have to stand back and go, unless this monthly chart starts to look even rightly bearish, I think you just have to, again, let your winners run, sit back, make sure you’re not doing too many overt moves and non necessary moves, chopping and changing.

I’m going to be very strategic and calm, and we’ll take as much of what it is as a very exciting place to be. So have a great day. We’ll catch up next time. See you guys. Bye bye.