Bitcoin has lost nearly 6% over the recent 24 hours, crashing from $8824 on Tuesday to a low of $8,103 early on Wednesday.
A 6% decrease in the price in one single day isn't a crash, it's just normal fluctuation, anyone who hass been involved with Bitcoin for more than 6 months or so should know this.
Bitcoin is still by far the biggest coin out there with the market cap $139.6B, but its market dominance has shrunk significantly from over 85% in February to just 37%.
Understandable. Everybody jumped into the Bitcoin bandwagon back in December/January during the bull run, altcoins were completely forgoten as people wanted to invest in BTC, after the price went down everyone started looking for a new coin to earn profits and so it began the altcoin cycle = capital flows back into alts, also, a bunch of shitcoins started showing up, others were pumped by hype/dreams and hopes, meaning that the altcoin market cap was bound to go up while the btc dominance was bound to go down. We might not see that 85% dominance again since people have realized how profitable the crypto market can be without going all-in on Bitcoin.