Although everyone is currently discussing the record-long positions in #BTC , it's important to consider one key point. If Bitcoin stalls at its current levels and moves sideways for a week or two, many positions may start closing. Interest in #cryptocurrencies will remain at a minimal level since, due to high dominance, other assets fail to show consistent activity.
The situation will change dramatically once BTC #dominance starts declining and enters a #downtrend . Until then, Bitcoin could rise even higher.
I expect dominance to decrease after Bitcoin reaches the $110k–$ #120k range. That's my target, but we'll see how it all plays out 😁.
