BTC Dominance says something is about to happen

Anything that can be put into numbers is subject to quantitative analytics and can tell a story.

Dominance is just calculating how much of the market a specific asset owns, for global market cap of crypto, BTC was responsible for the majority of the market cap for a long time and had around a 96% dominance until the first alt season we had some years ago. There is hard logical support at 40% dominance and we have been building up to this point for a long time as you can see.

This is the btc dominance chart, there is definitely something about to happen, either major pullback or eth and alts are about to significantly outperform BTC one of the two it seems.

If this breaks out its likely that the market has a bit of a meltdown, if it breaks down, its likely that ETH and alts will outperform BTC for some time, possibly getting BTC to test that support at 40% again at some point.

I am not long or short yet, I am cautious and observing. Maybe this opens a door for you though, if you were unaware of charting dominance, try looking at dominance of some other major crypto as well. Dominance charts are kind of like sub titles to the primary chart.