BTCDOM price increasing but BTC price down

Apocollapse

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Quote from: Z_MBFM on February 02, 2025, 03:06:35 PM

so is BTC's bull run going to end? What is the reason for such a sudden drop in the price of Bitcoin?

We've experienced much more worse than the present. Bitcoin price was crossed to $63K and then it went to $32K, almost 50% drop in the previous super cycle. So, if we use the current rate, Bitcoin price could drop to $50K, $93K is much more high than $50K.

Dunno what's behind from this dump, but El Salvador revokes it's Bitcoin legal tender status from mandatory to voluntary.

JeffBrad12

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Quote from: Z_MBFM on February 02, 2025, 03:06:35 PM

Bitcoin dominance price pumping that means btc buy pressure now high and altcoins sell pressure is high. And because of this, it is natural that the price of Altcoins will decrease now. But now why the price of Bitcoin has also started to fall a lot. Today the price of Bitcoin is down to $97k and the price of alts has dropped massively. so is BTC's bull run going to end? What is the reason for such a sudden drop in the price of Bitcoin?

people are panicking and money going into stablecoin I guess, as you can see USDT dominance is going up,

and this happens a lot at the time like this, basically, if BTC dom increase, USDT dom increase, while BTC price falling, this mean a big massive dump for altcoin.
I'd expect the altcoin to keep getting down until BTC reached 68-69% dominance though, it's hard time for altcoin.

LogitechMouse

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An increase of Bitcoin dominance means that investors prefer to invest into Bitcoin compared to altcoins especially in market downturns like what's happening right now, and since they are shifting from investing into altcoins to Bitcoins, the demand will go up hence, price increases. It will not happen overnight though, but an increase in Bitcoin Dominance is a good sign... or is it. Cheesy

Quote from: Z_MBFM on February 02, 2025, 03:06:35 PM

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What is the reason for such a sudden drop in the price of Bitcoin?

Trump's move where he imposes huge tariffs against China, Mexico and Canada. This triggered the huge downfall on the crypto market.
Speaking of sudden drop,

Just look at how much money got liquidated in the last 24 hours. A whopping $2.07 Billion has been liquidated. On the flipside, I saw a post regarding somebody who shorted Ethereum and is now up $150+ Million already. I guess when someone is losing money, somebody's also making money as well. I hope that everybody's okay still despite of what's happening, and if you have spare funds, use it to buy some Bitcoins... I guess. Cheesy

GreatArkansas

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Look how the BTC DOMINANCE pumped!!

This is a mega pump on Bitcoin Dominance in just a short period of time. It's already above 60%, even though everyone is expecting an altcoin season but the opposite happened, so it could be people who sold their altcoins and just bought Bitcoin. This is just a normal move from King Bitcoin.

mirakal

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Altcoins just follow the path of bitcoin, so it’s normal to see altcoins are dropping massively when bitcoin starts to drop its price. And this might be happening due to a stock market sell-off. Risk-off has been happening when DeepSeek scares investors, thus expecting a small financial crisis for bitcoin which I don’t think is bad enough since it could be a perfect entry then for new bitcoin investors.

Odusko

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Quote from: Ambatman on February 02, 2025, 03:17:24 PM

Trade war initiated by Trump
The market is temporarily reacting negatively to the news and Gold gaining more
It's quite normal during geopolitical crisis like this, Before fall first before rising.
A day or a week dip doesn't mean we in a Bear market
BTCDOM shows Bitcoin dominance in relation to the others and nothing more in my book.

Bitcoin market speculators are too short time-sighted to the point that less than 24 hours dip becomes a bear market to them and that is not supposed to be so, most times we need to play the role of time analysis more than we do to price actions, most times Bitcoin movement is just like this and we can't have a one direction Price movement when you see Bitcoin rising speedily you should expect a dip also, this is what we call market correction and not a bear market yet, it will become a bear market if the trends downward continue for at least 2 months to three months then we can now declare a full bear market, but at this point, Bitcoin is just on a correction mood and anything can happen any moment from now.

coolcoinz

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Are you aware of the fact that every time bitcoin drops altcoins drop much more?
Also, bitcoin dominance is always the highest in bear markets, not in bull runs!

This is very easy to explain. Bitcoin is the safest and the most stable of all cryptocurrencies mainly due to its large market cap and a huge number of long term holders.
When the market goes down people first exit investments they don't fully trust and don't believe in, which is why they dump all the Trump coins, Doges, and things like that, but still continue to hold bitcoin.
As a result, total market cap of all coins goes down and bitcoin dominance goes up.

At the moment the small correction is mostly due to gold. People saw gold make ATH and sold everything to catch the train.
Good thing in all this is that there are no issues with bitcoin and historically it's been known for making new highs during gold rushes.

Ambatman

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Trade war initiated by Trump
The market is temporarily reacting negatively to the news and Gold gaining more
It's quite normal during geopolitical crisis like this, Before fall first before rising.
A day or a week dip doesn't mean we in a Bear market
BTCDOM shows Bitcoin dominance in relation to the others and nothing more in my book.

Z_MBFM

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Bitcoin dominance price pumping that means btc buy pressure now high and altcoins sell pressure is high. And because of this, it is natural that the price of Altcoins will decrease now. But now why the price of Bitcoin has also started to fall a lot. Today the price of Bitcoin is down to $97k and the price of alts has dropped massively. so is BTC's bull run going to end? What is the reason for such a sudden drop in the price of Bitcoin?

Topic: BTCDOM price increasing but BTC price down (Read 64 times)