As BTC dumps, ALTs are starting to wake up

BTC fell to $70K

then quickly pushed thru $69K. So the BTC CME gap between $69,000 and $70,000 has now been filled. BTC didn't stop it sold off to $68K where the next CME gap is around $67,000.  Put in context of positions sold... $760 MILLION worth of positions have been liquidated in the last 24 hours.

To pile on further Bitcoin dominance is crashing hard and just hit a 58-day low of 58.85%.   Don't forget MT. GOX. I say that as they just moved 10,539 $BTC worth $747.2 million to an unknown wallet. Prepare for volatility

How bad is this? In chart context down 17% just since May 6th.

Where is the money rotation flowing?

Lots of ATL coins are starting to stir, note, I did not say rip. Is this institutional buying or whale positioning, unknown at this point.

Why would money rotation into ALT be meaningful?

First, I will state that Stablecoins have evolved into THE settlement Infrastructure.  In what manner you ask?  Stablecoins, meet checkout!

Don't believe me - META just launched $USDC  stablecoin payouts for creators across Facebook, Instagram, and WhatsApp. That means META just unlocked 3.5B users to utilize Stablecoins… this is how it starts!  One goes up and another goes down, don't overlook the impact to Tether, which sold off on this news! 

Summary

Nobody should overlook the money flowing out of BTC into Semiconductors and ALT Coins or this a larger macro trend where BTC leads the NASDAQ by 2-4 weeks of a draw down?  Or is this the storm prior to the US Clarity act passage bringing a deluge of fresh money into Crypto? Do you have that steady nerve for a 4-year BTC bear market?  Or is Tom Lee correct in stating this is the end of Crypto Winter?!?

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