Bitcoin Triggers Crypto Market Correction—Traders Scramble as Dominance Shifts

BTC's sudden volatility sparks chain reaction across altcoins

Market cap bleeds $200B in 48 hours—'healthy pullback' or warning shot?

DeFi tokens hit hardest as leverage positions get liquidated

Meanwhile, Wall Street pundits still can't decide if crypto is dead or the next big thing

Crypto TOTAL 4H Chart

Bitcoin has impulsive characteristics on 4h time frame, and we can clearly see five waves up that can send the price even higher after a pullback. Now that it’s back to all-time highs, we can see it making a higher degree ABC correction, which can take some time, and it can retrace the price back to 97k-93k support zone before a bullish continuation.

BTCUSD 4H Chart

However, we may now see a temporary corrective recovery in wave B, where some ALTcoins could still be doing well, if we consider that ALTcoin dominance may start kicking in. The reason can be a ratio chart of TOTAL3(ALTcoins) market cap against Bitcoin with ticker TOTAL3ESBTC, which shows that ALTcoins may start outperforming BTC soon. It can be finishing final subwave C of (Y) of a correction in blue wave B which may cause a new strong rally into wave C that can bring the ALTseason similar as in the beginning of 2021.

TOTAL3ESBTC Weekly Chart

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