Greetings and I hope you’re staying safe during these turbulent times. I’d like to share some insights on the current state of the market and explain why Bitcoin continues to be the supreme coin of crypto, the king.

As we can see, many altcoins are either hitting new lows or revisiting their June lows, while Bitcoin remains around the 25-26k USD range. This highlights the fact that altcoins are more vulnerable to market fluctuations and regulatory uncertainties compared to Bitcoin, which has a stronger network effect, adoption, and security.

Based on historical patterns, financial conditions, and the correlation between Bitcoin and altcoins, I strongly believe that if Bitcoin drops further or hits a new low, altcoins could drop as much as 99% from their all-time highs. This is because whenever Bitcoin experiences significant drops, altcoins tend to drop even further due to losing liquidity, confidence, and investor support. Although altcoins usually follow Bitcoin’s price movements, they do so with higher volatility and lower returns.

Despite what many traders may believe, I’ve been betting against their calls for an alt season, 40k BTC, 3k ETH, and so on. While shitcoin chasers continue to suffer losses due to their arrogance and greed, I’ve been consistently winning by betting against them.

Currently, I’m keeping an eye out for potential short-term bounce opportunities in specific areas, such as 100DMA, 200WMA, and demand, before maxing out my shorts again. BTC dominance has been rejecting around 48-49%, and any breakout above 49% could trigger a massive alts crash, potentially sending them down by 50-90% from their current prices. If BTC.D loses 46.9%, we could see Bitcoin correcting without affecting alts much.

One can make substantial profits by scaling shorts on alts and witnessing their insane dumps. If you’re interested in a short-term trade on the spot, ATOM could be a good option for a 10% bounce, as it has a solid support level and has demonstrated some strength lately. However, I believe it will only be a temporary relief rally before resuming its downward trend.

As I mentioned in December 2021, I plan to start DCA-ing my bags from Q2 till Q4 this year and be all-in again regarding my crypto portfolio, diversified between 50 fundamentally strong projects.