In previous #crypto market cycles #bitcoin dominance has typically rallied hard during #bearmarket due to being perceived as a safer asset than #altcoins. Have the events of this year weakened this narrative? Bitcoin was the only crypto asset supporting the $UST peg, and so was rapidly sold back in May trying to protect #luna and #ust, ultimately unsuccessfully. Naturally, Bitcoin was on both Celsius and FTX and has been heavily affected by both events. Corporations have sold some of their Bitcoin holdings to met short term cash requirements, not holding for the 4 year cycle that #hodlers tend to. This therefore could provide an opportunity for other assets that aren't affected by the failures of centralised entities. Certainly in the shorter term, we could see focus shift to altcoins with asymmetrical tokenomics to Bitcoin. #ethereum and #bnb could be two contenders given their different value mechanisms to Bitcoin. As part of the merge, Ethereum underwent a "triple halving" and BNB is bought and burnt by Binance every quarter. Want to learn more? Visit our website: https://decentrader.com Follow us on Twitter: https://twitter.com/decentrader Disclaimer: Nothing within this video should be misconstrued as financial advice. The financial techniques described herein are for educational purposes only. Any financial positions you take on the market are at your own risk and own reward. If you need financial advice or further advice in general, it is recommended that you identify a relevantly qualified individual in your Jurisdiction who can advise you accordingly.More Info