\n<\/p>\n
Crypto strategist and the pseudonymous analyst Pentoshi<\/strong> tells his 514,000 Twitter followers that Altcoins<\/strong> are likely to get hit hard as capital rotates to less risky assets.<\/p>\n He says the crypto market is getting rid of \u2018dead weight\u2019 and warns Altcoins to face significant drawdowns.\u00a0<\/p>\n Talking about the Bitcoin Dominance Index<\/strong>, he says it looks incredibly bullish after holding support at 39.70%.<\/p>\n The Bitcoin Dominance Index measures the valuation of BTC against the market cap of all other crypto assets.<\/p>\n He says, \u201cBTC dom vs alts. Alts look primed to get decimated here. BTC dom knocking at new highs = alt\/btc pair breakdowns. Believe it or not, great for the market to get rid of dead weight for new growth later.\u201d<\/p>\n Few things to look at$BTC<\/a> \/ #alts<\/a> Alt\/BTC + USD bleeding out rapidly while BTC sits here. BTC.D making new highs can be alt outflows to BTC before BTC outflows before total market outflows to Stables<\/p>\n Just my 2 cents but possible current flows https:\/\/t.co\/OyTmlSdRlg<\/a> pic.twitter.com\/sm3wbxvSTZ<\/a><\/p>\n \u2014 Pentoshi 🐧 Forbes worst trader 40 years running (@Pentosh1) February 11, 2022<\/a><\/p>\n<\/blockquote>\n Pentoshi also says that the pullback on February 10th and 11th showed the weakness in the altcoin market.<\/p>\n Related Link:\u00a0Why This Analyst Thinks Bitcoin Is Unlikely To Be Challenged By Altcoins<\/a><\/em><\/p>\n<\/p><\/div>\n\n
Below weekly open can get ugly<\/p>\n