If we consider the fact that Binance (one of the major exchanges) is 30 days away from blocking all U.S. customers from the regular exchange (where many alts are traded) the fact that BTC dominance is again near another local High shouldn’t be a surprise. Nevertheless the big question remains the same when and how strong is the next Alts Season (since all attempts to start one failed).
At the moment, it’s hard to guess when since we don’t have strong patterns playing out and also because the bounce on many BTC pairs is now vanishing with some of them already reaching new Lower Lows. On the other hand BTC may test the top of the short term downtrend and if it breaks out from that channel alts probably will suffer a bit more. Best case scenario Alts may finally start recovering after September 12 but nothing is granted. After all, BTC and Alts may keep lagging until October/November or they can do something else.