Good time, traders 👋
Brief overview of the crypto market:
Market capitalization - $3.66T (-1.4%)
Bitcoin dominance - 64.25% 📉 (-0.4%)
Altseason Index - 33 📈
Fear and Greed Index - 70 📈
BTC $116460 (-5.19%)
ETH $2974 (-2.3%)
BNB $679 (-3.76%)
SOL $159.5 (-4.3%)
$XRP $2.85 (-3.39%)
Bitcoin dominance is falling, but not rapidly, which means that any BTC pullback is accompanied by a decline in altcoins. Yes, many have risen by 20-30% over the week, and now it generally looks like a normal correction. However, there are those who have been stagnant all week, for example, #Solana . At the moment, it looks about 2-3 dollars higher than before Bitcoin rose above 108k. There may have been a large coin sell-off throughout the week, or perhaps this is a declining faith in this flagship. Let's hope that we will still see a rise to $180-200 per coin.
Regarding the nighttime drop of Bitcoin, I attribute it to several factors:
- overheating, overbought, and the need for correction
- FUD about the whale with 80000 BTC
- FOMC meeting
Overall, the market looks critical; we can look for entry points for tokens in the coming weeks..
Fair winds in your trades 🤞