The main reason for this is that $btc is currently correlated with the legacy markets, e.g #BTC rose from $65K to $73K when the spx rallied. This correlation suggests $btc might retrace alongside the spx before eventually decoupling.
btc dominance $btc.d is moving exactly as we anticipated which is causing altcoins to bleed. Once dominance cools down, alts may get a chance to recover.
Avoid blindly going long and keep your ammunition ready to snipe at the right moment