Quick update on the Crypto Market.
The external factors that drive the markets and likely to be the leading indicators when it comes to predicting the market behavior, its overall trend, strength and weakness to be considered, analysed and understood are the following.
1) DXY - Dollar index (the dollar index has an inverse correlation with the entire crypto-currency market, strength in dollar means weakness in crypto overall and weakness in dollar index equals strength in crypto markets in general).
2) USDT.D (USDT dominance has exactly the same function as the dollar index, an inverse correlation with crypto market. Weakness in USDT dominance means liquidity rotation in BTC+ALTS. However, strength in USDT dominance means liquidity shifting out of crypto in general)
3) BTC.D (similar to that of #DXY and #USDT dominance, #bitcoin dominance also has an inverse correlation with altcoins and altcoins only. Should #BTC dominance drop, it would lead to a spike in altcoin prices across the board. And if BTC dominance were to appreciate in numbers, it causes the altcoins to drop. Your alt-season indicator is #BTC dominance)
4) ETH/BTC- Often neglected, refuted and misunderstood indicator for altcoins and alt-season in general. Until and unless it does not appreciate in value and shows sign of strength against #BTC, nothing matters. As of now, #ethereum is doing the worst ever you can imagine against BTC.
5) ETH.D - Nobody speaks of it, most haven't heard about it. Your job is to track #ethereum dominance similar to that of #BTC dominance to evalute the overall price strength in Ethereum's price which in itself is a good leading indicator for what's to come for altcoins.
