The dominance is not down, maybe a little. We are at the highest dominance since the crazy fomo bull market started in March 2017. The reason why it decreased a little was mostly due to XRP and Tether gaining a slight percentage.

You need to understand how it works and best is to look at 2017. Basically the dominance back then was over 80% and when the bull market started the dominance went back down because people got better gains in alts like Ethereum and Ripple. Then when BTC peaked in Dec 2017, the dominance went down again substancially because people sold BTC and bought ALTS and later on when the bear market started people basically sold ALTS for tether or fiat and pretty much the cycle will repeat again in the near future.

For me, there is really a relationship between the market capitalization and dominance that we have now on the market. Clearly we can that if there is a huge market cap for a particular cryptocurrency such as bitcoin, it also has a big impact or we can consider it as dominant in the market. How? Most of the transaction was with Bitcoin, it is also the most famous cryptocurrency and no doubt it has the biggest market capitalization today and in the future.

what happens to the market cannot be separated from TA.

if without that, bitcoin will move in the range of $ 1k-10k very quickly. speculators also still rely on the use of indicators to determine price confirmation technically. what you think is similar to history that happened, but it has become a common understanding. I refocus on the dominance of the BTC, it is likely to become bullish after the end of the national taxpayer limit early next year, I observe the same pattern every year, and altcoin will still be like the previous months. I'm also still waiting for things that make this year a differentiator.

Why do people care about "Market Dominance" if most of the exchange volumes are faked? In a regulated environment, things like market dominance

would have more credibility, but in Crypto currency markets the accuracy of the statistics are highly questionable. People should also not take any of

these statistics very seriously, because the Bitcoin price is very volatile and speculative. It might show you one thing now and within a couple of hours,

it might go in the total opposite direction. 

Crypto market is still Bitcoin dominant. If there is increase in Bitcoin price, many altcoins start increasing, here I am not talking about "shitcions". It is also  true that most of the altcoins today are shitcoins in terms of their market value but some of these coins are backed by good projects, value of these coins may increase in bull run. I still believe that there will BTC bull run shortly. I am waiting for that moment to come.Bitcoin is still the king of ccrypto market.

consciously I believe bitcoin is not worthy of being a short-term investment, because I learned from this forum, bitcoin is more worthy of a long-term investment, that's what I know, to hell who dominates all this, maybe we don't know much about the price of bitcoin too difficult to predict but believe me bitcoin still has plenty of time to go through the highest price, always remember bitcoin always comes with surprises

i don't know about "down" because whenever i check the bitcoin dominance status i see it has increased a lot. for example last time i checked bitcoin price was still rising while all the other altcoins without exception have fallen and never recovered.
or for example when i look at adoption bitcoin is the only cryptocurrency that is used in real world. there were some tiny usage for some altcoins which is dead now as they got dumped and forgotten over the past 2 years.

It's a good indicator of a bitcoin bull market. Usually in a bear market bitcoin dominance rises because altcoins get hit harder than Bitcoin and people escape to fiat and bitcoin to minimize losses. In a bitcoin bull market dominance decreases as people invest some of their profits in altcoins that tend to pump more than Bitcoin.

What we're seeing now is too small to call it an altcoin season but maybe just big enough to be the beginning of a bitcoin season.

I think it is a psychological indicator more than mathematical analysis. It is a measure of how willing people are to invest in altcoins, and therefore either they have lost hope in the bitcoin’s appreciation or that the value of BTC is (high & hopes are high) and therefore it is better to try other alts.
The real ratio is much higher, but current measures give a mistake in that.

all crypto exchanges will continue to be dominated by bitcoin, so even if it goes down there is no problem if some of them turn towards altcoin which of course is also not shitcoin, but all other crypto currency exchanges remain dominated by bitcoin which holds the key when it has to go up and when it has to go down, even though the price of bitcoin is currently down does not mean that the dominance of bitcoin over other cryptocurrency is also a big problem, everything follows bitcoin