We have had upto 30 billion $ leave the market capitalization yet bitcoin holds above 6100$, the result is that the altcoins are bleeding out badly and bitcoin's dominance soaring higher than usual? when will this stop?
Its because most of the investors leave altcoins but not bitcoin since most altcoins have just now turned to be pump and dump coins and could not deliver anything more than that.
Even when most alts are pump and dumps, they're still profitable and that's why some of them have an absurdly high market cap which kinda attracts investors since you can expect some profits.
But I don't think that (people dumping alts because they're PnD) explains what we're seeing today (or over the last couple of months). I think the current decline in the altcoin market is due to the fact that the altcoin market has been going through a bearish trend, making the Bitcoin market the more profitable and
appealing market.
when will this stop?
Who knows? But you need to understand that this sort of trends occur from time to time. There was an altcoin cycle where the BTC dominance wouldn't go past 40%, and this cycle went on for about 3 months (April-May-June), now alts have entered a bearish trend whereas Bitcoin is on the verge of a bullish trend.
Maybe this altcoin downtrend will stop once Bitcoin goes full bullish mode and altcoins follow the uptrend.