Bitcoin dominance is breaking out and at its highest point in 2 years, as alts are breaking down – what is going on?!

Bitcoin Dominance has been at the highs, approaching 50%. We just broke out of a range that we have been in since April 2021.

This is because alts are getting absolutely massacred. In the last 24 hours:

  • BNB -9%
  • ADA -25%
  • Matic -27%
  • DOT -14%
  • Sol -25%
  • Link -15%
  • Atom -18%
  • Algo -19%

A lot of these alts are hitting multi year lows. Algorand has even hit an all time low.

This absolutely insane. Meanwhile:

  • Bitcoin -2%
  • Ethereum -2%

There's a TON of liquidations:

What on earth is going on? This is an absolute massacre of my portfolio.

Take a break from the screen if you need, please.

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50 thoughts on “Bitcoin dominance is breaking out and at its highest point in 2 years, as alts are breaking down – what is going on?!”

  1. Crazy Pepperonis…that was lightning fast! Its weird that I am numb to it…only regret is not having enough fiat to stock up. Blood in streets makes the big $…I am staying the course.

  2. I remember back in 2019/2020 or something when we had a flash crash of like 60%. If I remember correctly we had multiple of these. Keep calm carry on

  3. Great and i put half of my paycheck yesterday , its brutal , time to forget about crypto for a long time

  4. Unless you’re a gambler, BTC & ETH should always make up most of your portfolio. You can sleep better at night.

  5. The only coin we’re sure SEC won’t deem a security is Bitcoin, just become a Bitcoin maxi lol

  6. >what is going on?!

    The industry is remembering us what is all about…

    …BTC, it has always been BTC.

  7. institutions.

    swear people are dumb. when crypto options became a thing. and then futures. alt coins were fucked.

    i have alt coins. i think they have utility that might outlast and i haven’t sold them since well before 2017 and i will plead ignorance for tax purposes. because i don’t know. and they don’t fucking know either.

    but if you think the whole crypto market hasn’t already been regulated, you’re regarded. all the people with all the money know all the people with all the money. and they just make more money.

    if you think they didn’t buy the shit out of a dip retail was chomping at, you’re just silly.

  8. Something definitely happened, we were basically stable/slight decline throughout the day, then boom cliff.

  9. This is the only way for us to truly start the bull run. It ends when Eth finally takes a dump

  10. For me alts can drop another 50% in next week. My € are ready for long term investments. Gary just brought us crypto Black Friday

  11. The American market matters a lot. All coins about to exist USA are tanking. They will not be able to compete against coins that do have access to that market.

  12. XRP is only down like 4% and they’re actually in court for being called a security 😂

  13. Good thing I cancelled my sleep for the past 90 minutes buying the dip.

    Can’t wait for another 25% drop see my money evaporates right in front of my eyes. 😭

  14. What happened in 2019 as well.

    Bitcoin bottomed in December 2018

    Alts bottomed in autumn 2019

    And most alts in Bitcoin pairs bottomed just when bitcoin broke ath in December 2020

    That’s why I have been buying only bitcoin, but people still told me this time was different, lol, this market never changes and still caughts 95% people off guard, it’s impressive

  15. People telling others to only buy BTC and ETH for the past 2 years.

    Wonders why alts are dipping.

  16. This is typical behaviour in a bear market, but moreover, we are now witnessing growing scepticism of altcoins as US regulators crack down on projects they consider securities.

  17. This is just what happens in a bear market. As it has always happened. People leave alts behind and fold back into BTC and ETH. Then bull market happens and a bunch of people get manipulated into alts through social media advertising scams all over again.

    Just remember next bull market, if you get a message from a long lost friend about how spidertoken is going to fund a real life spiderweb to go around the world and catch any asteroids that might come in… you tell that friend to go to hell. Keep a portfolio of ETH and BTC, end of story.

    My name’s Jimmy Crack Corn and I approve this message.

  18. From the years 1900 to 1919, some 2,000 American companies were involved in some way with the construction of motor vehicles.
    This is the same issue crypto has today. There is too many projects, everyone is trying to make it. most have no use, very few actually do. The SEC finally making a move put things into perspective. Keep the winners and cut the projects that are not producing anything.

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