I have been observing the market and I see that BTC dominance is breaking.
Despite the price of BTC is dropping, and I can see that altcoins like solana is holding quite well and just dropped a little.
Could this be the start of altcoin season? Maybe BTC dominance over the market will continue to drop.
What do you think?
in january bitcoins peak was $106.5k and today its $96k which is a 10% drop
however
sol->btc was 0.00252 and is now 0.00152, which is a 40% drop converting to bitcoin
sol->USD was $261 and is now $145, which is a 45% drop converting to USD
so on what measure are you saying that bitcoin dropped alot and solana only dropped a little
if you bought 1btc in january for $106.5k. and just held as btc and sold today its only a 10% loss
however if you converted it straight to sol(396) in january. and then sold that back to bitcoin today. (0.6btc $57k) 50%+ loss in $$
how has bitcoin lost its dominance when its shown that it was safer to hoard btc not sol