📊 Crypto Market Analysis: Temporary Correction or Beginning of a Bear Trend?
🔍 Brief Market Breakdown
The crypto market experienced a decline of 2.56% in the last 24 hours, a movement that many analysts attribute to a necessary profit-taking after an impressive rise of 7.01% in the past week. This volatility has been amplified by high levels of leverage in the derivatives market.
⚡ The Deleveraging Factor
Open Interest in derivatives increased significantly by 14.11% in just 24 hours. This increase in leverage acted as an amplifier of the sell-off, as initial declines triggered chain liquidations of long positions, accelerating the downward movement.
🛡️ Rotation Towards Safety
A key data point that emerges is the increase in Bitcoin dominance, which rose to 58.25%. This classic movement signals a rotation of capital from altcoins, perceived as riskier, towards the digital asset considered safer and more stable: BTC.
💡 Extra Data: Historically, periods of high BTC dominance tend to precede phases of consolidation or general market correction, as capital temporarily seeks refuge.
