Bitcoin Dominance Will Die and This Is Why It's ImportantMarket Cap BTC Dominance, %CRYPTOCAP:BTC.Dvs_sayinWhen you look at charts of altcoins, you see money bags. Millions of opportunities. Dreams that can be achieved by simply making the right entry. You have been reading stories about people who got rich and made fortunes from them. Companies founded by memecoins that make no sense at all. Students who paid their debts during their studies by clicking a few green buttons on their screen. But you also remember the times when families were destroyed by them. People who lost their hope in life because of the wrong entries. All these stories you heard, read, and lived happened because of only one thing: Bitcoin itself. If there were no Bitcoin, there would be no altcoins, no DeFi, no Web3. There wouldn't be NFTs or little rich children who create memecoins by spending 5 bucks. This is where the problem begins. Bitcoin Dominance is dying. All the technical factors are showing weakness. I'll explain them all one by one. First, you need to understand what Bitcoin Dominance means under certain conditions. Bitcoin Dominance simply means the market share of Bitcoin. The higher the BTC dominance, the higher Bitcoin’s share of the cake. The "cake" is the market itself. If we were in an uptrend on a weekly timeframe, this post could have been an exciting thing to read for you. For now, it will not. Since October 10th, the market has been facing a strong decline. The market has witnessed a flash crash unlike anything seen before. And that was not only a warning, but also a trigger pulled by the market itself. On that night, the market decided to destroy all the remaining liquidity at lower levels. People who got rich easily and forgot what the market actually does when they trust it too much are now facing the biggest decline in their portfolios. If you have a basket full of altcoins and never took profits, you know what I mean. Now let's get into the main problem: Imagine the market itself as a universe full of planets. The biggest planet is Bitcoin itself. Ethereum and some major projects can also be described as planets in this case. And the rest are just moons that don’t actually matter much. For 5 consecutive months, Bitcoin has printed red candles on the monthly timeframe. That alone is a problem. During these 5 months, the market did not receive any new and "real" money. Money in the market just rotated through altcoins one by one and came back to BTC when it got tired. Due to the liquidity taken below, altcoins needed a little fuel from the upside to continue the downside. These altcoins, or "moons," received money from the biggest planet for a while just to move up a little, then gave it back to the big orange boss. This is the main reason why USDT Dominance is forming a large range at the moment. Now let’s take a look at that: When you examine these little "moons," you will realize something: some of them are still going toward their all-time lows, while some of them are trying to clear their upside liquidity. The reason is simple: there is none left at the bottom for the market to clear! The problem is that these moons exploit Bitcoin and whatever is left of it. They do this because they need more fuel to fall further. The green candles you see are a lie; their movements are not permanent. They are not receiving any money from outside of this universe—they are just taking it from Bitcoin. Bitcoin, at the moment, has already lost some of its correlation with altcoins. They are making independent moves, which sometimes make no sense. Some sectors of altcoins need to be examined very carefully in this era. When you check AI or DeFi, some of them are trying to rally while the market is crashing, and some of them are falling while the market is trying to recover. This cannot be explained by coin unlocks alone. Bitcoin Dominance is an insurance for this market. It needs to be stable during crashes. Otherwise, altcoins will not be able to survive what’s coming next. If Bitcoin loses its dominance while the market is declining, it means no insurance and no real money coming back anytime soon. Let’s get back to the chart again to see why Bitcoin Dominance looks bearish: This image is taken from the 12H timeframe of Bitcoin Dominance. In shorter timeframes, Bitcoin Dominance seems a little bullish because of this wedge. The problem is what comes after. The 60% barrier is extremely important for Bitcoin Dominance. It shows whether the "big daddy" of the house is strong or simply getting old and sick, unable to make its word respected. According to Elliott Waves theory, BTC Dominance is going to start its final corrective leg, known as wave C. Another reason is that an ending diagonal was formed before the main move started. When you combine this with Fib calculations, the target of this wave after testing 60% in the lower timeframes, should be around the 55% area. This is the "when" Bitcoin returns and awakens once more to outperform stocks and other assets. Pull the trigger when you see Bitcoin Dominance at 55%. Thanks for reading. Skyress.