GOOD MORNING!!!
Friends, what a night this was? Our Asian friends were caught by surprise by Thailand's totally excessive stance towards Cryptos, especially regarding the exchanges Bybit, OKx, and 3 others.
Regulators in Thailand informed yesterday that starting from June 28, these exchanges would be blocked. This stance not only shows that regulators in Thailand do not understand the current moment of the Crypto Market, but also do not care about harming the formidable Thai population.
Of course, a measure of this scale dragged the entire market down when we thought we would have a recovery. I think any selling here is a fatal mistake, but the market's decline in light of the situation is understandable; in any case... let's see how we are overall.
- The dominance of #BTC had a quick rise but is facing difficulties at the current point, and going back to 63.84% puts the Bulls back in control of the Altcoins.
- I won’t comment on BTC right now because I will post an updated chart.
- Total 2 still looks good since we are maintaining $1.17T, which is essential for keeping the OPTIMISM in Altcoins and avoiding a visit to the stronger supports. The real test is the weekend, but it still looks good.
- ETH/BTC, this surprised, continued above 0.02433 and showing strength, it’s amazing... Of course, at the moment it fell from 0.02510, the Altcoins dropped drastically, but still, the drop was less than it could have been, so I still see this as something positive in the ETH/BTC chart, and today if we can return to 0.02510 we will have the Altcoins returning to where they were.
- The USDT.D, despite having jumped to 4.70%, already shows weakness, and a return to 4.48% seems more likely than a continuation from here.
Overall, despite seeming quite bad based on the numbers we see at first glance, if you pay attention to what I am pointing out here... you will see that you shouldn't flip the table just yet.