Since the dump from 6500$ (and actually since sept.) btc dominance has been very stable, around 53%.
However it appears previous bear market phases always had an impact on the indicator.
How do you explains this at all?
It was only a small stable period and now it is fluctuating again. Volatility is the nature of the crypto market and it can not go away. Once it's stabilized, it's a sign that it's going to have a big turning point.