Bitcoin (BTC) Tumbles below $50k After Biden Unveils Tax Plan

At the same time, however, the BTC dominance in the crypto market has finally tumbled below 50 percent at the time of writing. Currently, BTC dominance sits at 49.4 percent, per data from CoinGecko.

As previously reported by BTCManager, a steep fall in BTC dominance usually tends to be a precursor to a full-blown altseason. Whether the same will happen this time, only time will tell.

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