#BTCvsMarkets
We know that Bitcoin (BTC) is like the "captain" of the crypto sea. Its movements often serve as a benchmark or at least influence other coins (altcoins). The phenomenon of #BTCvsMarkets is really interesting to pay attention to.
Sometimes we see BTC racing alone, its price soaring while altcoins are somewhat sluggish or moving sideways. This often happens when Bitcoin's dominance in the market is strong, as if "money" is flowing more into BTC.
But there are also phases where BTC is consolidating or slowly rising, and then altcoins start to "show their teeth" and soar high one by one. This moment is often awaited by altcoin enthusiasts, commonly referred to as the beginning of "altseason" when BTC's dominance begins to decline.
Understanding the relationship of #BTCvsMarkets is very important for our trading or investment strategy. Should we focus on BTC when its dominance is strong, or should we start looking at altcoins when BTC's dominance softens?
What are your observations about #BTCvsMarkets lately? What phase do you think it is in?