I have been in the cryptocurrency market for almost two months, I observed that when the market fell, the percentage of BTC always increased. The current percentage of BTC has accounted for more than half of the market. What does this mean? Can anyone give me an explanation, and why is BTC? not another Coin? Because in my opinion, BTC is affected by market volatility more than the Altcoin!
Yes definitely I would like to explain you this. Basically most of the trading takes place in BTC trading pairs over all the exchanges when it comes to alts. You don't get a lots of alts listed with USDT pairs so whenever there is a dump in the market people don't go to USDT instead they just sell out their alts and keep BTC thus controlling their BTC count from falling. This is why BTC dominance always increases whenever their is a such a dump in the market.