Bitcoin vs Bitcoin Dominance Thoughts
As Bitcoin has reached the milestone of $100,000, I believe there will be a slow down and some consolidation there (wrote about it yesterday, but I might still be wrong) in the $85,000 - $100,000 range.
🧐 But what about Altcoins and Memeconis? This should positively affect them. Once all the profits start flowing out of Bitcoin, they won't stay in USDT, but be flipped into Altcoins & Memes.
We can expect BTC.D to dump from 60% to 53% by the end of 2024.
🚀 Allianz Invests in MicroStrategy’s Bitcoin Strategy
Germany’s largest insurer, Allianz, has bought 24.75% of MicroStrategy’s $2.6 billion convertible notes through four subsidiaries, signaling a surge in institutional interest in Bitcoin. 🧐
💡 MicroStrategy, the largest corporate Bitcoin holder, plans to use these funds to buy more Bitcoin and for corporate purposes, fueling expectations for Bitcoin to hit $100K soon.
📈 With Bitcoin already reaching a record $99,000 and posting a historic monthly gain of over 40%, analysts predict it could break $100K by the end of the month.
However, some warn that the crypto market’s growing leverage might need correction before further surges.
Allianz’s move shows how traditional finance is embracing Bitcoin. Are we witnessing the start of a new institutional crypto wave? 🌊💰
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Good point about some of the BTC gains moving into alts and memes. Some will go back to dollars but the alt season has definitely begun.
Looking at previous bull run and when alt coin start pumping btc needs to drop in it dominance to about 50 downward that's when we can start seeing crazy run from altcoin
As at the moment altcoin are still dormart and still at the accumulation phase.
What about the bull runs before that, did alt season also begin at 50% dominance?
Yeah, you can cross check from the chart of 2021/22 bull market. The btc dominance is dropping just keep watching and see. After it gets below 55 at btc dominance you will see some altcoin start getting up.
The money flow has to move from btc to high. Marketcap altcoin then before moving to mid and low marketcap then move forward to memecoin before the bear season will come in